The Fiorentina holding midfielder only made seven appearances for City on loan 12 months ago but tasted enough of the English game to want a long term stay here.
The Chilean international may be hoping for a switch back to City with compatriot Manuel Pellegrini set to take over the hot seat from Roberto Mancini this week.
Pizarro has alerted a number of English clubs with his desire to move to these shores and Arsenal, Liverpool and Everton are all keen to make that happen.
The 33 year old will not be expensive as his time at Fiorentina is clearly coming to an end but the former Roma man will demand one final big payout in regards to wages.
The Italian club would prefer Pizarro to leave permanently rather than be loaned out again.
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