Perugia set to confirm O'Neill stay
The Uruguayan international had been tipped to possibly quit the Stadio Renato Curi this summer, however it now looks like the former Juventus star will stay with the club.
"We already have (Fabian) O'Neill in the squad," said Cosmi. "I think it's stupid to search for a new offensive midfielder.
The player himself reiterated his desire to stay with the Serie A side saying: "I would be happy to stay. I have spent seven months here last season and I think I fit in well with this club."
Meanwhile, Perugia strikers Zivis Vryzas and Nicola Amoruso could be about to leave the club with Atalanta reportedly eyeing Vrysas and Premiership sides Everton and Birmingham City chasing Amoruso.
However, with City only recently signing Irish international Clinton Morrison from Crystal Palace it is unlikely the St Andrews side are in the market for another striker.