Boca Juniors president Jorge Amor Ameal insists Carlos Tevez remains too expensive for them to sign.
Tevez was back in his native Argentina last week, which prompted fresh suggestions that Boca could offer him a route out of Manchester City.
But although Ameal admits contact has been made with Tevez, he added that Boca could not afford a deal for the striker.
Another of his former clubs, Corinthians, remain interested but Boca admit they will not be joining the bidding at the current level.
Carlos is deservedly a very important figure here," Ameal told local radio.
"But from the economic point it is impossible. I did talk to him, and I lent him our support."
Tevez's return to Argentina meant he was AWOL, as he was due to report for training with City.
However, Tevez and his advisers have been holding talks with City in his native country despite being told to return for a disciplinary meeting today.
City had found Tevez guilty of five breaches of contract during the Champions League loss at Bayern Munich on September 27.
He was initially fined four weeks' wages but that was halved following intervention by the Professional Footballers' Association.
Tevez flew out to Argentina last Monday night, ahead of what was a scheduled day off on Tuesday.
PFA chief executive Gordon Taylor - who represented the Argentinian at his disciplinary hearing - expressed disappointment at this when, Taylor understood, Tevez was "clearly told not to".
Tevez's representatives did say, however, that the player had attempted to contact manager Roberto Mancini several times before travelling but been unsuccessful.
Tevez has not played for City since the infamous game at the Allianz Arena, after which Mancini claimed the player was "finished" at the club.
He was suspended for two weeks while an investigation was conducted and was then asked to train alone, and later with the youth team, after returning.
