English champions Manchester City have made it clear they will not spend more than £15mn on Arsenal captain Robin van Persie this summer, according to a Goal.com report. The club was keen to sign the Dutch striker but are wary of spending too much, given the player will turn 29 in August.

However, the Gunners placed a £25mn price tag on the striker's head and City, of all clubs, have cooled their interest in the player as a result.

"The numbers do not add up for City. They are not willing to pay more than £15m on top of marquee wages," Goal.com quoted a source as saying. It seems the Etihad outfit was ready to offer a deal worth £200,000 per week but there are also reports saying large wage packages could be revised at the club, given the impending UEFA Financial Fair Play Regulations.

City are already struggling to contain a massive wage bill and will look to release fringe players like Roque Santa Cruz, Wayne Bridge, Kolo Toure and Emmanuel Adebayor. Even if they do, it seems clear the club is serious about its financial commitments and will look to curb spending. An option, should the deal for van Persie not take off, is Napoli striker Edinson Cavani.

The 28 year old Dutchman, meanwhile, is planning a family vacation after his national team's group stage exit from the 2012 European Championships and has refused to sign an extension at the Emirates after initial talks broke down.

It appears Arsenal will need a new captain for next season.

Meanwhile, van Persie's international team mate and City defensive midfielder Nigel de Jong has confirmed he wants to extend his contract with City and help the club win another league title next season, according to The Sun.

The 27 year old was key in City's title-winning season last year and the successful 2010 FA Cup campaign and is confident he will remain at the club for the near future, despite speculation to the contrary.

"My contract runs for another year, so I'm in a pretty good position. I want to stay [at Manchester City]. I've been at the club for three years and I'm feeling really well. I have won the FA Cup and the league title, which are the biggest trophies in England," ESPN quoted de Jong as saying.