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EXCLUSIVE: Like an applause-filled debut at Park City's Eccles Theater, the Sundance Film Festival's potential move to a new location in 2027 is attracting big bidders and also providing a significant boost to hometown audiences.

San Francisco, Minneapolis, Santa Fe and Atlanta, home of Hollywood South, are among the jurisdictions that have told SFF organizers they are raising their paddles for a chance to host the festival in their city. I hear Chicago has also reportedly taken steps to bring Sundance to the already film festival-rich Windy City. Some locations in Upstate New York and Savannah, Georgia are also in play.

Last year, as Santa Fe was making its case, Deadline exclusively reported that Sundance was considering a move as its current, decade-plus contract with Park City expired. Insiders tell me that the capital of the increasingly purple Peach State, full of infrastructure, manufacturing, tax incentives, hotels and screens, could be the one to beat even at this early stage.

With Sundance still in Park City next year and in 2026, there's still a long way to go before any final decisions are made.

The deadline for submitting requests for information announced by the Robert Redford-founded Assembly on April 17 expired on Wednesday. I'm told there was a flood of applications coming in under management, which is pretty normal in situations like this. In the next phase, a Sundance Institute task force, including founder and board member Amy Redford, will divide RFI applicants into serious players in the next few days.

Once this core group of applicants is identified and notified, Sundance will begin a proposal submission process from May 7 to June 21. In this comprehensive effort, Sundance executives will dig deeper into the numbers and survey potential host candidates with a focus on inclusivity and sustainability before selecting a winner later this year.

The new home of the Sundance Film Festival, which has been based in Utah since the early 1980s, is expected to be unveiled in late January 2025.

Or not.

Despite the metropolis's goal of making a name for itself and Slamdance's recent revelation that they are moving to LA next year, Park City isn't ready to say goodbye to the festival, which attracts tens of thousands of attendees and grosses over $118 million , attracted the state's economy and the world's media to Utah in 2023.

“The Sundance Film Festival should stay in Utah,” Park City Mayor Nann Worel told Deadline this morning.

“We have an experienced, innovative and unified team to ensure this happens,” added the first female chief executive of the increasingly expensive resort located 7,000 feet above sea level. “Park City is not alone in this process. Our regional partnerships are strong and we are committed to a renewed, forward-looking effort to reimagine the festival together. Ultimately, we believe our 40 years of experience and strong partnerships will be key to our success, and we thank the Sundance Institute for this opportunity.”

Frankly, given the growing pains that both the community and the festival have experienced over the last decade, and the grumblings from some locals about the PiBs (People in Black) who parade up and down Main Street every January, that's seeing it Snowy Park City “An aggressive package will be presented to Sundance to ensure the festival stays where it is, according to a local source.

To that end, part of the reimagining involves expanding Sundance's presence in the Beehive State, literally and figuratively.

“After 40 years of successfully hosting the Sundance Film Festival, we truly understand the festival’s unique needs and challenges,” Virginia Pearce, director of the Utah Film Commission, told Deadline on Thursday. “We coordinated a response to the RFI with Park City and Salt Lake City. Sundance is important to key partners across the state and we will continue to work together to collaborate on the RFP and reshape the future of this festival in Utah. We look forward to the future and are committed to making the festival more accessible for artists, staff, volunteers and audiences.”

Given Sundance's rocky road out of the pandemic and the general shift toward streaming and tentpoles in the industry and the festival itself, the collaboration with Made in Utah could represent a suggestion for a shift to SLC. “There’s a brand new airport, financial flexibility, venues and history in Salt Lake,” says an insider. “This would allow Sundance to both remain in Park City and grow in Salt Lake.”

As for Sundance itself… there's radio silence for now.

While Sundance is focused on conducting a fair and comprehensive review of all potential partners through the RFI and RFP processes, the institute did not comment on potential offers or shortlists on Thursday.

Sundance will begin labs in Chicago, Santa Fe and elsewhere in the next few months and will experience its next full-fledged festival in Park City and SLC from January 23 to February 2, 2025.

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Rumors regarding the Atlanta Braves do not come along that often because Alex Anthopoulos keeps things under wraps until the deal is official. That does not mean we never get rumors though, because there is always another side. This time, it looks like we are getting news from the Bay Area, where it looks like the San Francisco Giants are looking for some middle infield help.

Kiley McDaniel reported that the Giants were scouting both Vaughn Grissom and Nicky Lopez recently. Conveniently, the Braves just announced they acquired Nicky Lopez in exchange for Taylor Hearn.

#Braves Acquire INF Nicky Lopez: pic.twitter.com/Zn1bWlXhS2

— Atlanta Braves (@Braves) July 30, 2023

Now, McDaniel did report that the Giants were looking for a middle infielder due to their depleted depth because of injuries. He did mention they were looking for one with a steady glove but that does not seem to be a dealbreaker. As we know with Grissom, he is more valuable due to the talent he possesses with his bat, not his glove.

San Francisco recently called up their top prospect Marco Luciano and has him playing second base. Brandon Crawford has been a constant in the lineup for a decade for the Giants, but he is having one of the worst years of his career and he might be approaching the end. Grissom could potentially slide into second base and they could move Luciano over to SS to improve their lineup.

The Giants are also willing to move guys all over the field, something they have really excelled at doing in recent years. This is something most believe would benefit Grissom, turning him into a super utility that could play multiple defensive positions. Maybe his glove is nothing special, but he could give guys days off while playing regularly himself and become a solid hitter at the Major League level.

The Braves would obviously look to improve the major league roster in any deal. The Giants do have an abundance of outfielders that they might be willing to move. The most notable for Braves country will be the fan favorite, pearl necklace wearing, that Moth— (wait…I can’t say that here), Joc Pederson

The Braves might also want a pitcher. Luke Jackson also fits the bill of an old Braves friend. Coming off Tommy John, Jackson has only seen 10.1 innings, but he has been typical elite Luke Jackson with a 1.74 ERA, 1.90 xERA, 1.35 FIP, 2.76 xFIP, and 2.54 SIERA.

The Braves might also look for a backend pitcher like Alex Cobb or Alex Wood. However, I would imagine there would be more moving parts there.

The trade deadline always brings some fun rumors. We will have to stay tuned to see if there is any fire behind the smoke coming from this rumor. Until then, stay tuned to House That Hank Built for updates.

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Despite being one of the fastest growing metropolitan areas in the country, interest in moving to Austin is becoming less of a city center and more of a suburban one.

A new study by moving experts moveBuddha examined data from Austin’s Metropolitan Statistical Area (MSA) from 2020 to 2022. Their analysts determined trends in when and where new residents are moving and what city they are from.

In short, most of the people who moved from Austin moved from the following areas: North Loop and Hyde Park (78751), south of Dessau between I-35 and 290 (78754), Tarrytown and Old West Austin, the at the river borders each side of Mopac (78703), the area south of Mopac and 183 with Crestview, Allandale, Wooten and North Shoal Creek (78757), and Jollyville (78729).

The zip code with the most “positive” search volume in 2022 was 78701 in downtown Austin. But moveBuddha does not credit this as a top destination for people to relocate, but as a standard zip code that travelers and tourists look for.

According to moveBuddha and the US Census Bureau, Leander is the true growth winner in the Austin area. It was named the fastest growing city in all of America between 2018 and 2019. The increasing popularity of the CapMetro rail line, which runs into the heart of downtown Austin, is probably a major factor in why Leander residents are embracing suburban life.

Given the influx of newcomers, it’s certainly no surprise that Californians love our city as much as we do. The study found that for every 100 Austin residents who were considering moving to San Francisco in 2020, a staggering 1,213 San Francisco residents were considering the opposite move. A similar ratio was found for residents of San Jose in Silicon Valley.

The top five US cities with residents moving to Austin are:

• San Jose, California
• San Francisco, California
• Chicago, Illinois
• Nashville, Tennessee
• Houston, Texas

Despite the influx of transplants, the waning interest in Austin since 2020 hasn’t just been limited to the Golden State. Residents in Atlanta, New York City, Brooklyn, and Washington DC were all drawn to the idea of ​​moving to Austin in 2020, but as of 2022, they no longer share that desire.

On the other hand, many Austin residents are leaving the state for a city with similarly progressive values. According to the report, Denver is where Austinites are seeing the most interest in moving in recent years. Access to outdoor recreation, lots of local music, and enough “weird” vibes are the big draws for the city of Colorado.

Most of the concerns when residents leave the city have to do with rising living costs, such as rising rents and housing affordability.

The top five destinations for Austinites moving out of the city are:

• Denver, Colo
• New York City, New York
• Portland, Oregon
• Washington, D.C
• Raleigh, North Carolina

The full report and its methodology can be found at movebuddha.com.

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According to data from the Bureau of Labor Statistics, there is a pension gap affecting industries dominated by hourly-paid jobs. Human Interest Inc., a small-plan 401(k) provider, believes it can help change that by offering low-fee retirement plans to franchises that employ hourly workers.

“Franchising is one of the areas that we’ve identified as a massive untapped opportunity,” said Rakesh Mahajan, chief revenue officer at San Francisco-based Human Interest. “Our mission is to help these workers so they can save for retirement. … We have the ability to help every American worker.”

Speaking to Mahajan, it’s clear that Human Interest – founded in 2015 – has big ambitions. It also operates in a crowded environment that already includes longer-term 401(k) small plan providers like Ubiquity and Betterment, as well as newer startups like Vestwell and Icon Savings Plan. However, Human Interest has some notable backers and announced a new round of funding in January, led by global investment firm BlackRock.

Part of Human Interest’s growth strategy is to integrate its 401(k) offering with payroll providers to essentially integrate its retirement plan into the installations of many companies that serve the large US service industry.

“We’ve partnered with over 400 payroll providers to be part of their weekly payroll and we’re seeing a ton of hourly workers signing up,” says Mahajan. “Now they don’t have to create a huge Excel spreadsheet, download it and manipulate it. …People in the past have shown me the screen of what to do and I said, ‘No wonder you didn’t want to manage a 401(k) plan!’”

Watch out for the gap

About 68% of workers in private industry had access to occupational pension plans in 2021, with 51% of eligible workers choosing to participate, according to the latest available data from the BLS. However, looking at the service industry, that hit rate drops to 40% and engagement to 24%.

These numbers fit with general trends showing that sectors with a high concentration of hourly workers, such as Some industries, such as services and retail, have lower access to pension plans and participation that can be half or two-thirds lower than some industries with higher coverage, according to Craig Copeland. Research director for wealth benefits at the Employee Benefit Research Institute.

According to Copeland, there is a need for more access to hourly workers’ pension plans. Automatic inclusion in pension plans for such employees could help increase coverage, he says, which was mandated by the SECURE 2.0 Act of 2022 and will start in 2024. Overall, however, Copeland sees state-mandated pension plans as having broader implications than federal regulation that relies on incentives.

“The state plans have the widest reach within these states because they require all employers [with exceptions] Putting money directly into a tax-deferred plan,” he says. “At the federal level, Congress hasn’t gone that far.”

According to payroll service provider ADP, there are currently 14 states that require small businesses to offer retirement plans. More than 30 states are now considering enacting some form of statutory retirement plan.

The combination of SECURE 2.0 and government mandates is a potential boon for providers of small plans like Human Interest. According to a company spokesman, the company currently has more than 11,000 customers and 200,000 plan participants.

Additional growth, Mahajan says, comes from working with organizations like Neighborly, a franchise model that has thousands of home care workers working on an hourly basis, including Molly Maid, Mosquito Joe and Glass Doctor. In a December announcement, Human Interest announced that its retirement plan would be offered to 4,400 Neighborly franchised locations across the United States

The goal of this and other partnerships is not only ease of use, but also relieving plan sponsors of administrative and fiduciary burdens. Human Interest acts as a 3(16) trustee and assists in the administration of the plan and compliance with ERISA guidelines. Another move Human Interest took was to move its recording services internally in 2020 to reduce fees that are often passed on to clients by recording administrators. The in-house option also improved timing and the experience for customers, according to the company.

can you hear me now

Mahajan admits that when he first retired about four years ago, he felt a bit embarrassed. He has had success creating growth at startups, but has never worked in the 401(k) space.

Now he says the “privilege” of wanting to help hundreds of thousands of American workers with their retirement plans has made him a firm believer in both the potential for growth in the field and the need for innovation. These include systems that allow new hires to start saving as soon as they start work, as opposed to the standard 20-day waiting period common to many legacy providers.

“We need a system for workers that says [when you start a job]”Here’s your 401(k) and you can start saving right away on day one,” he says. “That’s how it’s supposed to work, but it doesn’t.”

Mahajan equates this work to the time he spent at T-Mobile when it was a little-known wireless carrier that evolved into a cheaper option serving businesses and consumers across the country. The key, he says, is matching the right people with services that outperform existing systems and cost less.

“Partnership has always been the framework for me,” he says. “We’re speaking to payrolls, CPAs, brokers, and anyone who can help initiate a conversation with a potential plan sponsor. … The scale of the problem is vast, and the odds are in the trillions.”

That’s trillions with a “T,” not a “B,” Mahajan repeats, just to make sure the message and opportunity are clear.

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US economic conditions are shutting the door on the red-hot residential real estate market in the North Bay, with increasing interest rates contributing to May’s double-digit percentage drop in the region’s home sales, according to the California Association of Realtors.

And this may be just the start of a changing real estate market, thanks in part to interest rates that have doubled since the start of the year.

“The industry was caught very blindsided by that, because all of the mortgage-lending industry and most economists expected mortgage rates to remain in the (3% range) all during this year,” said Nevin Miller, president and CEO of San Rafael- based Pinnacle Loans, which serves Marin, Sonoma, Napa and Solano counties, as well as Southern California. “For them to go from 3% to 6% is a shock to the market.”

The current market still favors sellers, he noted, but that doesn’t mean they aren’t reacting, even with all-time low inventory.

“Sellers who have now got a ton of equity because homes have appreciated so much are rushing to put their home on the market before the market changes, which it is doing now,” Miller said.

In the North Bay, year-over-year property sales in May were down in several counties, according to the agent association. Sonoma County home sales dropped by 22.8% to 385 homes sold; Napa County 12.1% to 102 homes; and Marin County, 10.1% to 178 homes, CAR reported. Solano County sales, however, rose 5.8% to 328 homes sold in May.

This wasn’t surprising to CAR Deputy Chief Economist Oscar Wei, who noted that Solano is the most affordable county in the Bay Area and North Bay.

Insights and cash

In Sonoma Valley, while large overbids on homes have not been unusual, with three-quarters of offers coming in all-cash, the buying frenzy reached out to traditionally more affordable areas of the county, said Duane Margreiter, sales manager for Century 21 NorthBay Alliance in Sonoma. One of his properties was a $1 million home in Windsor, where overbids had previously gone as high as asking $25,000 over, and that property sold for $75,000 over.

“We’re seeing a shift in the market,” Margreiter said. “Buyers are taking a different look. They’re realizing that they do not need to put in an offer on the first thing they see.”

While the rise in interest rates is likely to initially price out first-time homebuyers, overall it likely will result in a shift to a more balanced market, rather than a crash like in 2005 to 2012, when the Great Recession had a wave of foreclosures , Margreiter said.

Patricia Oxman, a 30-year real estate veteran and top producer for Golden Gate Sotheby’s International Realty, said the Marin County market data she tracks suggests local entry-level buyers have already pulled back so far this year, but higher-priced homes continue to be selling.

Sales of single-family homes in Marin County are down 17%, with 1,120 changing hands so far this year, compared with 1,346 in the same time frame last year. Home sales under $1 million have dropped to 72 from 145 a year ago. Sales of mid-range homes ($2 million to $4 million) moved down to 48% of all sales from 54% last year, while top-end homes (over $4 million) now make up 46% of sales, up from 34% a year ago.

“The luxury market is still strong because buyers pulled money out in anticipation of the purchase, and 28% of our sales are all cash,” Oxman said.

Gerrett Snedaker, broker and partner with Better Homes and Gardens Real Estate-Wine Country Group, said he’s seen “a decrease in multiple offers and selling homes in excess of asking prices.” The firm has multiple offices in Napa, Sonoma and Mendocino counties.

In May, 16% of homes in the three counties sold at reduced prices, and by late June that proportion is 19%, in line with the level from a year before, according to Snedaker. And the share of homes selling for over the asking price was 55% in May, 44% through late June and 52% a year before.

Market influences

The changing market conditions have already started to reduce prices on listings.

Just over 9% of Sonoma County listings experienced a price cut in May, compared with 6.9% in April and 4.9% in March, Zillow reported. About the same percentage of sellers lowered their prices in neighboring Napa County, in contrast to reductions in April at 7.1% and 6.3% in March. To the west in Marin County, 6.8% of listings were lowered, versus 5.1% in April and 4.9% in March.

Much of this trend is due to “rising interest rates on the back of the incredible price appreciation in recent years,” Zillow spokesman Matt Kreamer pointed out, adding: “People are being priced out.”

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DUBLIN (KPIX 5) – As interest rates creep up, many thought it would mean some potential home buyers would back off. So far, that doesn’t seem to be the case in the Bay Area’s red-hot market.

March was another record month for California and Bay Area real estate. The median single-family home price in California, in March, was $849,080, according to the California Association of Realtors.

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Here were the median sale prices for single-family homes in the nine Bay Area counties:
• Alameda: $1,430,000
• Con Costa: $965,900
• Marine: $1,737,500
• Napa: $998,000
• San Francisco: $2,060,000
• San Mateo: $2,280,000
• Santa Clara: $1,950,000
• Sonoma: $833,750
• Solano: $604,000

“The headlines are screaming historically high sales prices. The finer print is, people still want to buy homes,” said David Stark, with the Bay East Association of Realtors. “If you look at how long a home was on the market, it’s at historically low levels, which tells us that buyers are not only willing to pay those prices, but they’re willing to pay those prices quickly.”

Mortgage interest rates are rising. However, that phenomenon doesn’t seem to have had an effect on the market yet, according to John Levine, the VP & Chief Economist of the California Association of Realtors.

“Even as rates have really, surged over the course of the last eight weeks or so, we haven’t seen that affect buyer demand for several reasons,” Levine told KPIX 5. “But the bottom line is, we still have ultimately too many buyers and not enough homes to put them in, that’s keeping the market relatively strong.”

In March, for the first time in about two years, the inventory of available homes did not shrink, according to the latest figures.

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“It is significant that we actually have more for the first time in a very long time. We still have a long way to go to get back toward something that looks normal,” Levine said. “But, I think for those buyers in particular who really do want to move forward with those transactions and get in while the gettin’ was good as it were with rates, that’s good news in the sense that they might have a few more options moving forward.”

Bay East President and Realtor Sheila Cunha tells KPIX 5 while the market is still “crazy,” it’s not quite as crazy as it was a few months ago.

“We’re not seeing quite as many offers right now as we did four or five months ago,” she said.

Cunha believes the rising interest rates will ultimately lead to some potential homebuyers backing off, but doesn’t think that’ll happen until the summertime.

“I think it’s coming. I think as the Fed continue to raise the interest rates you’ll see buyers not being able to afford what they once could,” she said.

As for the inventory, she thinks that will slowly start to increase as well.

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“Spring is usually our busiest season,” she said. “I think we’ll start seeing more homes coming on the market.”

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The fear that a “very tight” US labor market will demand fuel wage demands is producing a consensus in Fed policy-making circles on the need for a 0.5 percentage point rise in its base interest rate at its next meeting in May, with possible further hikes of that magnitude at subsequent meetings.

Acting US Federal Reserve Chair Jerome Powell announces interest rates increase on March 16, 2022 (Source: CSPAN)

The president of the San Francisco Fed, Mary Daly, is one of those adding her voice to what is a growing chorus for a bigger rate rise than the 0.25 percent (25 basis points) the Fed instigated at its meeting last month.

In an interview with the Financial Times (FT), Daly said the case for a half percentage point rise in May had grown. She was commenting in the wake of the latest data from the Labor Department showing the unemployment rate had dropped to 3.6 percent, the lowest since before the pandemic.

The remarks by Daly are significant because she is generally regarded as one of the more “dovish” members of the Fed’s governing body.

“The case for 50 [basis points], barring any negative surprise between now and the next meeting has grown,” she told the FT. “I’m more confident that taking these early adjustments would be appropriate.”

As with all her counterparts in the Fed, starting with the chair Jerome Powell, Daly is focused on the issue of the labor market. The fear in ruling circles is that inflation is leading to upsurge in demands by workers for pay rises to compensate for the losses over the past two years and more.

Daly said the latest data showed the labor market is “very strong” and “tight to an unsustainable level.”

Her views echo previous remarks by Powell who has made clear he is prepared, if necessary, to take the road of former Fed chair Paul Volcker in the 1980s who lifted interest rates to record highs, inducing a deep recession, to crush wage demands.

Daly did not go that far but, according to the FT, they acknowledged the economy may have to slow to bring inflation back into line with the Fed’s 2 percent target.

The Fed’s interest rate moves have nothing to do with bringing down price hikes. They will not reduce the price of oil, lower the price of food and other necessities, or free up global supply chains, impacted by the refusal of governments internationally to take action to eliminate the pandemic.

Higher interest rates are aimed entirely at the working class, with the objective, as Powell has put it, of bringing back the demand for labor in line with supply—that is, by slowing the economy and lifting the jobless rate.

Other members of the Federal Open Market Committee, the Fed’s interest rate setting body, want to go further than a one-off 50 basis point rise. Their ground was staked out by James Bullard, president of the St Louis Fed, who dissented from the 25 basis point increase in March and called for a rise of 50.

In an article last week entitled “Expectations grow that Fed will deploy jumbo-sized rate rises,” the FT noted predictions by Morgan Stanley that the Fed will deliver back-to-back 50 basis point rises starting in May, followed by 25 basis point adjustments at each of the four subsequent meetings for the year. These rises will accompany moves by the Fed to start winding back its holdings of nearly $9 trillion of financial assets which will add to upward pressure on market interest rates.

Citigroup has forecast four 50 basis point increases by the Fed at each of its next four meetings, so that the Fed rate reaches 3 percent by the end of the year.

Summing up the expectations last week, Simona Mocuta, chief economist at State Street Global Advisors, told the FT: “The signaling clearly has been very much on the hawkish side for some time, but that has gotten to a fever pitch in recent days. ” State Street Global Advisors is the investment management division of the State Street Corporation, the world’s fourth largest asset manager.

The expectation of higher Fed rates has led to the phenomenon of yield curve inversion where the rate on shorter-term Treasury bonds rises to a level higher than that on the 10-year bond. Under normal circumstances the rate on the longer-term debt is higher than the short-term rate because lending longer term involves greater risk and uncertainty and therefore demands a higher rate of return.

But last Friday the rate on the two-year Treasury bond reached 2.44 percent while that on the 10-year was 2.38 percent.

Yield curve inversion is regarded by many market analysts as a warning of a forthcoming recession as investors consider that the Fed has pushed up interest rates to levels that will induce a credit squeeze, leading to a recession and lower rates in the longer term.

Previous recessions have often been preceded by a yield curve inversion. Whether it takes place on this occasion remains to be seen. Experience is an increasingly uncertain guide because of the transformation of the US financial system as the result of 15 years of “quantitative easing” (QE). The Fed has pumped in trillions of dollars into the market, first after the crisis of 2008 and then following the market meltdown of March 2020 at the start of the pandemic.

The Fed is now treading a fine line. On the one hand it wants to raise rates to clamp down on a wages upsurge, while on the other it is fearful that a too rapid rise will bring down the financial house of cards it has created by its low interest rate and QE regime.

The actions by the Fed will have international ramifications as central banks around the world also move to lift rates to counter wage demands. It will also exacerbate the already large debt servicing problems for many developing economies and so-called emerging markets.

The class agenda driving central bank and monetary policy was indicated by former Treasury secretary Larry Summers in an interview with Bloomberg over the weekend.

Summers, who often indicates the thinking in financial circles—he was one of the first to take issue with the Fed’s claim for much of 2021 that inflation was “transitory”—pointed to the effect of higher rates on government debt.

He began by denouncing the call for a so-called billionaire tax as a “bad idea whose time will never come” and then turned to the issue of government debt. The very low interest rates being used to calculate its impact “look comical today.” With the ratio of government debt to GDP now at more than 100 percent, Summers said using more realistic rates would likely add 5 percent to the debt to GDP ratio.

This raises the ever-growing question of how the debt will be paid and, having ruled out tax rises, Summers left no doubt about where the ax should fall.

“We’re moving towards a moment when we’re going to have to start to think about fiscal policy as well as monetary policy as an anti-inflationary tool,” he told Bloomberg.

The cuts will come not through any reduction in military spending which has risen to record highs, a move Summers fully supports, but on vital social spending which hits the working class.

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Bernardo Silva has been linked with a move to Tottenham but the Portuguese midfielder has no intention of playing for the Lilywhites, according to The Athletic.

Manchester City are keen to sign Harry Kane and they have included Silva as a sweetener in their first offering for the English captain.

Tottenham turned down the offer and they were able to add more money and come back with the same player.

City has already informed Silva that he can leave the club this summer if they receive an offer worth considering.

The midfielder would be a good addition to the Tottenham squad. However, he said he was not interested in moving to London.

Instead, he wants to play in Spain next and, according to the report, his agent has held talks with the Premier League champions to find a suitable solution to the current problem.

Tottenham are still determined to keep Kane but the striker is just as keen to leave him.

Spurs will sell him if City makes an offer they can’t refuse, and it seems they prefer a bar-only deal as well.

It will be a long 12 days for the transfer window to close and it would be no surprise if something happened at the last minute.

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