Carlos Tevez must make a decision about his future with Juventus by this Saturday, the club's sporting director Beppe Marotta told Corriere dello Sport on Tuesday.
The striker held talks with Argentine club Boca Juniors on Monday in Chile over a possible return to his former club.
Tevez, 31, is under contract with Juve for another year but has beenlinked with a return to Boca Juniors while Atletico Madrid are also keen to sign the 31-year-old during the summer transfer window.
"We are very grateful for everything that Tevez has done for Juventus and we would like him to remain with us," Marotta told the Italian daily. "We will respect his decision, but we want an answer by the end of the week. We think that is only fair for everyone. We will announce the decision on Saturday and the alternatives are either Juventus or Boca."
On Tuesday, Boca president Daniel Angelici met with Tevez, who is representing Argentina at the Copa America. Angelici said that no decisions would be made until after the regional event.
"We have to be prudent and be cautious. We must be respectful of Juventus, who have his rights," Angelici told ESPN FC radio (ESPN 107.9 FM) in Argentina. "Yesterday, all we did was have some maté together and talk because he his focused on Copa America. Once it is over we will see whether we can resolve his current situation with Juventus. If not now, surely it will be done when his contract is up in 2016.
"Carlos Tevez has had offers from three or four big European clubs and we can't compete with them. We want to make the effort to bring a player of his level, but that is why we have to be patient and make the right moves.
"If the possibility exists, it would be great. Each time we have tried to bring in a player it has gone well for us. We have a healthy club and we can make the effort. But until the Copa America finishes and everything is over, we have to be cautious. Right now, we are here to support the national team."
Angelici, meanwhile, told TyC Sports via La Nación that Juventus or Boca are Tevez's only options.
"I am sure that Tevez will stay either with Juve or return to Boca," he said, adding that any potential arrival of Tevez would not affect Daniel Osvaldo.
The Italy international is on loan to Boca from Southampton through June 30.
"They are completely different subjects," Angelici said. "The arrival of one does not depend upon the exit of the other. Osvaldo has a personal problem and when things calm down we will talk to him to find out what he wants to do and to determine whether we can afford to bring him in."
La Gazzetta dello Sport on Tuesday claimed the meeting had "positive results" and that a three-year contract worth $5 million a season could be in the offing.
Tevez signed for Juve from Manchester City in 2013 and scored 20 Serie A goals last season as the Old Lady won a fourth straight league title.
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