The Serbian centre-back is understood to have been available since the summer, but he remains at the Etihad Stadium after a suitor for him could not be found during the last window given the Sky Blues’ valuation.
Despite wanting to recoup much of the £12m they paid for him, City are now ready to let their man leave for as little as £5m.
The 21-year-old has barely featured for the reigning Premier League champions so far this season, yet both Arsenal and Spurs are believed to be keen on the towering defender.
Reports suggest that both clubs have been made aware of his availability, and could mount offers in the New Year.
However Arsenal are believed to be more focused on Virgil van Dijk of Celtic and West Ham’s Winston Reid.
Spurs meanwhile are in the market for a centre-back given the struggles of stars such as Younes Kaboul and Federico Fazio.