Reports have claimed that the 27-year-old has lost £9.3m since he jetted off to South America without the club's permission just under three months ago.
"[The papers] are running a story based on a briefing given by Manchester City, that Carlos has lost £9.3m in lost wages and bonuses which is a lot money," Kia Joorabchian's advisor Paul McCarthy told Sky Sports News.
"When Carlos went back to Argentina in November, he and the club came to agreement that he waived his wages because he was not at Manchester, Carrington, so he waived his wages.
"And the situation is now that, quite frankly from Carlos's point of view, it is never about the money, it is not an economic situation with Carlos; if it had been he would have sat down with City about extending his contract which was on the table at one stage, but that is obviously not the case now and we wait and see what happens over the transfer window."
Tevez has been embroiled in a transfer saga over the last few months with AC Milan, Inter Milan and Paris Saint-Germain all declaring their interest in the player.
Despite, negotiations with all three clubs, it is a possibility that the frontman could remain at Manchester until the end of the season.