Bayern Munich have made Leroy Sané their No 1 transfer target this summer and are preparing a bid of around €80m for the 23-year-old Germany international, ONA reports citing The Guardian.
The winger, who has been in and out of the City starting line-up this season, is believed to be keen on a move back to Germany, having arrived in England from Schalke in 2016.
Bayern, who won the Bundesliga for a seventh successive time last weekend, will lose two players, like Arjen Robben and Franck Ribéry this summer and are looking to rejuvenate an ageing squad.
The German champions have already spent almost £100m on French defenders Lucas Hernandez and Benjamin Pavard, while teenage Canadian winger Alphonso Davies has made only brief substitute appearances since joining in January.
Sané joined City for £37m in Guardiola’s first year in charge, signing a five-year contract. He has scored 39 goals in 133 appearances for City, including the crucial winning goal at home to Liverpool in January.