The Mirror says the France international has six months remaining on his contract, and has refused all offers of a new deal, leaving PSG with no option but to try to get as much cash as they can for him.
Mendy, 26, who has been watched all season by Liverpool, will cost around £3m, and has already made it clear he wants to leave PSG.
However, Inter Milan, Juventus, Tottenham and Manchester City are also interested.