Globo Esporte reported the story this week, with Palmeiras academy director João Paulo Sampaio providing the most detailed account yet of how Conceição's transfer market story began long before he became a name circulating across European football.
Sampaio recalled the encounter with Klopp — now responsible for football operations across the Red Bull GmbH network — with evident enjoyment.
"Klopp was there and wanted to meet him. He asked me how much he cost. I told him: 'You still don't have enough money to buy a player like this.'"
Two formal approaches then followed from within the Red Bull structure. The first was worth approximately £6m. A second increased that figure to around £8.5m. Palmeiras rejected both, judging the moment to wait for a larger market to develop around the player.
"They made two offers, but we wanted to wait. He was already attracting attention from people in Brazil and around the world who wanted to know more about him. Then he exploded at the Brazilian Youth Cup, and now with the national team. It has been a well-planned path."
Conceição himself expressed disbelief when his agent later told him the story.
"I found out through my agent during a dinner. I couldn't believe it. I was honoured. For a coach at that level in Europe to speak highly of me is very gratifying."
Manchester City remain the most active European suitor, working towards a package of approximately £34m — still some distance below Palmeiras's stated target of around £43m.
Sampaio confirmed the scale of global interest: Premier League clubs, three clubs from Spain, Italian interest, and clubs from across the major European leagues and Portugal. Any deal, however, cannot be completed until at least the end of 2027 when Conceição reaches eligibility to sign a professional contract.