Conceição was left out of Palmeiras' 3-1 win over Coritiba on Wednesday, instead staying in São Paulo to play for the club's Under-20 side against Bragantino, a decision that forms part of a deliberate plan to manage the development of the 16-year-old forward, according to ge.globo.
Palmeiras have prepared Conceição for the first team, rejected several offers already and are targeting a fee of around €50m for a future sale of the academy graduate, who was this week named as the only Brazilian among 11 players on a list of prospects tipped for the 2030 World Cup, compiled by the recruitment platform Eyeball and published by The Athletic.
To aid his progress, the club has reduced his minutes with the youth sides, used the World Cup break to integrate him into pre-season training with the senior squad, and now brings him down to the academy only for matches, with his last Under-20 appearance in May and Under-17 outing in June.
Head coach Abel Ferreira has taken the same personal approach with Conceição that he previously showed with academy graduates Endrick and Estêvão, offering guidance directly, while senior players such as Marlon Freitas have also used training sessions during the World Cup pause to work with the teenager on his positioning.
Representatives for Conceição have held talks in recent months with Paris Saint-Germain, Manchester City, Manchester United and Barcelona, with figures discussed in the region of €25m fixed plus €15m in bonuses, though none of the four clubs has yet formalised those terms into an official proposal.
Palmeiras' own valuation sits closer to a structure of €30m fixed plus €20m in bonuses, taking any deal towards the €50m mark the club is holding out for. Under FIFA's rules on the transfer of minors, Conceição cannot move to Europe until January 2028, when he turns 18, which club insiders believe gives Palmeiras every incentive to keep developing him within the first team rather than rush a sale.
Talks with the interested clubs are understood to have cooled during the World Cup period, and the expectation among Palmeiras' own staff now is to let Conceição's continued progress in senior football do the talking on his value.
The club has already turned down offers worth €20-25m from English clubs earlier this year, as well as two lower bids from Red Bull, then led globally by Jürgen Klopp.