The People says the fiery Welshman is not in manager Roberto Mancini's first-team plans and could even be left out of City's 25-man Premier League squad following the arrival of Spanish star David Silva.
Bellamy is keen on a move to Harry Redknapp's Tottenham, but Celtic are also interested - while his home town club Cardiff City still cling on to a forlorn hope that he will choose them if he fails to find a home in this transfer window.
He has made no secret of the fact that he'd like to end his career at Cardiff, but the Bluebirds' financial woes make that move impossible at the moment.
However, Bellamy does not want to move anywhere permanently this summer and that surprise news was flashed to all interested clubs last week.
The hitman reckons he could yet return to Eastlands and prove to Mancini that he can still do a job for the Eastlands club.