The Daily Mail says the Belgium international is one of the most sought after players in world football and had widely been expected to leave French champions Lille last summer.
However the Ligue 1 outfit stood firm, knowing that another year with them would see his stock rise even further. He is now valued at around £40million.
Arsenal, Manchester United, Chelsea and Liverpool have all been keeping tabs on the 20-year-old forward for some time, while Premier League leaders City have also ramped up their interest with development executive Patrick Vieira recently sent on a scouting mission to watch Hazard.
Reports in France suggest that a figure that large would be impossible for modest Lille - who are keen to avoid selling to a domestic rival - to turn down.