A source close to the club told Turkish-Football.com that the Lions are waiting for City to make a decision regarding the future of Denayer.
The 21-year-old defender has spent the last few seasons on loan having spent last season with the Lions winning the Turkish Cup in the process.
The Belgium international has revealed in the past that he would consider returning to Galatasaray but it depended on what City decides.
Denayer was asked if he would consider staying at Galatasaray next season after winning the Turkish Cup to which he responded: “Galatasaray and Manchester City will have to agree on that it is not a decision I can make, they would have to agree first.”
City may decide to give Denayer the green light to leave if they manager to sign Leonardo Bunucci from Juventus as he would fall further down the pecking order.
Denayer reportedly wants first-team football but City cannot currently make any guarantees.