Rio de Janeiro, Jul 15 (IANS): Brazilian football club Sao Paulo has rejected a 33 million euro offer from Manchester United for winger Lucas Moura.

Sao Paulo, which owns 80 percent of the player's economic rights, is requesting 30 million euros for its share of the transfer, reported Xinhua.

For the deal to go ahead, Manchester United will need to raise its offer to 37.5 million euros or Moura, who holds the remaining 20 percent of his economic rights, must forgo his cut of the deal.

Representatives from the English Premier League club were reportedly still in Sao Paulo Saturday in the hope of striking an agreement.

Earlier this month, Sao Paulo rejected offers of 25 million euros from Inter Milan and Chelsea for the youngster.

Real Madrid has also shown an interest in the 19-year-old but is yet to make a formal bid.

Moura is currently with Brazil's 18-member Olympic squad for a pre-games training camp in Rio de Janeiro.