Shanghai Shenhua have confirmed they are in detailed talks with Boca Juniors in a bid to sign Carlos Tevez and claim to have made a "breakthrough" in the negotiations.
Reports have suggested Tevez has been offered an astonishing EUR40million-per-year to make a move to the Chinese Super League.
The 32-year-old is under contract with Boca until June 2018, but Shanghai president Wu Xiaohui is hopeful of striking a deal.
"We have done a lot of work [on trying to sign Tevez] and it's safe to say that there has been a definite breakthrough in the negotiations," Wu told Shenhua News.
"But for a variety of reasons, we have not nailed down the deal.
"Their club have problems that are still yet to be solved and I will spare you the details.
"We will continue to put greater effort into this and strive to give our supporters a pleasant surprise as early as possible."
Tevez made his return to boyhood club Boca in July 2015 having spent the previous two seasons with Juventus.
The Argentina international has scored twice in nine Primera Division appearances in 2016-17 and netted in Sunday's 4-2 win over Racing Club.
Shanghai, now managed by Gustavo Poyet, finished fourth in the 2016 Super League and are yet to win the league since being founded in 2004.