Manchester City and PSG have been alerted to news that Raphael Guerreiro may be ready to leave Borussia Dortmund.
The left back has a contract until 2020.
He is refusing to sign a new deal, with talks stalled for several months.
Per Bild, if Dortmund cannot get him to agree to a new deal, they will cash in on him this summer.
The 25-year-old is wanted by City, PSG and other clubs around Europe.
Guerreiro managed 17 starts in the Bundesliga and six substitute appearances, scoring two goals and providing six assists.