City were offered the chance to sign the 36-year-old and while a move was considered, they have decided not to move forward.
Juventus manager Massimiliano Allegri confirmed on Friday that Ronaldo wants to leave the club before the transfer deadline.
Sources have told ESPN that City were tempted to explore the possibility of signing Ronaldo after Harry Kane announced he would be staying at Tottenham Hotspur, and that the Portugal international was keen to move to the Etihad Stadium.
City, according to sources, considered signing Ronaldo but decided it was not the right fit, particularly because of the finances involved. Juventus are asking for a fee of around €28 million while Ronaldo’s wage demands would also have to be met.
Sources have told ESPN there is now an expectation at the Etihad Stadium that Ronaldo will join rivals Manchester United. Ole Gunnar Solskjaer refused to rule out the possibility at his news conference on Friday.