Karim Benzema is signed with Real Madrid through the 14-15 season, but a bidding war between Manchester City and Chelsea if a deal can't be reached.
Real would seek a transfer fee of £40 million if they decide to sell him this summer.
Agent Jonathan Hope, said: "I've proposed rekindling the interest from Manchester City for Karim. After his fine form in El Clasico I've proposed him as a summer target.
"Karim would love to play in the Premier League and Manchester City would be his choice of club, however reuniting with Mourinho at Chelsea would also be of interest.
"I know he is watching the Manchester derby with interest however. Manchester United will be a no-go area for the player as he has refused them four times over the years"