The Belgian centre-back has developed into one of the world’s finest layers in his position with the Sky Blues, and was a key member of their Premier League success in 2011/12.
He has struggled with fitness concerns of late, but Monaco are still keen to lure him to France in a £17m deal.
The newly promoted Ligue 1 side have quickly emerged as one of European football’s heavyweights, and are one of only a select band of teams that can compete with City on a financial level.
Backed by Russian oligarch Dmitry Rybolovlev, the Mediterranean outfit embarked on a £150m spend over the summer, and are keen to continue this with more additions both in January and at the end of the season.
While Radamel Falcao, Joao Moutinho and James Rodriguez have all been signed to address attacking concerns, their defensive ranks have not yet received a massive boost.
Kompany is seen as the ideal man to push the club towards domestic and continental domination, with reports suggesting that representatives of Monaco have already contacted the 27-year-old’s agent to hold discussions about a potential move.
It remains unclear as to whether or not the City skipper will be interested, but the Principality-based unit are likely to offer him a huge tax-free salary.