A report on Thursday evening claimed that the Premier League champions would pay £160m to bring the England captain to the Etihad Stadium during this summer's transfer window.
However, according to the Manchester Evening News, Man City have branded the speculation 'nonsense", as they would never be prepared to spend that amount of money on a single player.
The report claims that Kane remains a target for Pep Guardiola's side, but a deal could be difficult this summer due to the cost of the deal.
Tottenham are also believed to have made it clear that they have no plans to allow the 27-year-old to move on in the current market.
The centre-forward enjoyed an impressive 2020-21 campaign at club level, scoring 33 times and registering 17 assists in 49 appearances in all competitions.