Giovanni Bia admits reviving the deal is unlikely given City's work this summer.
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Bia told Sky Italia: "(Pep) Guardiola still likes him, but Manchester City has already bought another back (Rayan Aït-Nouri).)
"Furthermore, neither Andrea nor Juventus were disappointed that it no longer happened (in January).
"Andrea is happy with Juventus. He had a problem with the ankle that was not so good and Juventus would only sell him if they received a bid they really couldn't reject.
"He hopes to win something big with Juventus and is convinced that the club will return to their past great success. Playing firmly for Italy and Juventus as a 25-year-old is all he can ask for right now."
Cambiaso has a contract with Juventus until the summer of 2029.