Sao Paulo admit Manchester United's interest in Lucas Moura has led to them considering offering the Brazilian a new contract, but talks will not take place until after the Olympics.
Moura, who in the past fortnight has emerged as Manchester United's top transfer target, last week revealed he will not make a decision on his future until after the London 2012 Olympics.
The 19-year-old's agent, Wagner Ribeiro, recently confirmed his client was keen for negotiations with United to continue after the Premier League club had a bid in the region of £26million rejected by the South Americans.
Sao Paulo vice-president Joao Paulo de Jesus Lopes later invited United to lodge an increased bid for the teenager as they hold out for their valuation - thought to be more than £30m - to be met.
Earlier this week, Sao Paulo director of football, Adalberto Baptista, revealed the club are considering offering Moura a new deal in a bid to stop him moving to Europe after the Games end.
And now Lopes has confirmed plans are in place to try and fend off Sir Alex Ferguson's interest in the playmaker.
"When there was a round of negotiations with Manchester United the situation changed a bit and Sao Paulo started to admit the possibility of changing his contract," Lopes told Globo Esporte.
"But that will only happen after the Olympics as the presence of the player will be needed. We won't change the way we do things."
With United failing to complete a deal for Moura last month, they will be aware that his asking price may have increased. August 1st saw the percentage of his economic rights rise to 30 per cent (from 20 per cent), and reports in his homeland late last month had suggested it could take as much as £34m to push a deal through.
Inter Milan and Real Madrid are also keen.