Sao Paulo admit Manchester United's interest in Lucas Moura has helped to instigate talks over a new contract, but discussions will only be held once the midfielder has finished playing at the Olympics.
Moura has reportedly been the subject of a bid from United in recent weeks, with Sir Alex Ferguson having confirmed his interest in the teenager.
A potential move to Old Trafford appeared to be off late last month after the player's agent stated United are reluctant to meet Sao Paulo's £30million valuation.
The 19-year-old's representative Wagner Ribeiro claims he had been instructed to keep negotiations with United open, but Sao Paulo do not want to lose Moura.
He is already on a long-term deal with the Brazilian club and vice-president Joao Paulo de Jesus Lopes plans to arrange fresh terms once Moura is back from the London Games.
"When there was a round of negotiations with Manchester United the situation changed a bit and Sao Paulo started to admit the possibility of changing his contract," Lopes told Globo Esporte.
"But that will only happen after the Olympics as the presence of the player will be needed. We won't change the way we do things."
Meanwhile, as of 1st August, Moura's percentage of his economic rights has risen to 30% from 20% and he has also had a slight bump in his monthly salary.