However, Mubarak has assured fans that the 28-year old will not be a victim of Pep Guardiola's overhaul in the coming months.
When asked about if Aguero would remain at City, Mubarak said: "Absolutely. There's never been a doubt about that. I've read a lot of the speculation on this and it's ridiculous.
"Sergio Aguero is one of the best players in the world. We are a team that aspires to win every competition we compete in.
"Having Sergio Aguero as part of the squad is an absolute must. It has never been in doubt."