It has recently emerged that a £5m bid for Kondogbia would trigger a clause in his contract that mandates that Sevilla must negotiate with Doyen Investment Group to purchase the remaining 50 per cent of the player's rights.
Doyen currently hold 50 per cent while Sevilla retain the other half, but a £5m offer would force the Spanish club to attempt to buy Doyen's share.
The agreement was written into the player's contract following his switch last summer from Lens to Sevilla. Since then he's caught the eye of several of Europe's top clubs, and Sevilla stated earlier this season they wouldn't consider offers below £17m for the 20-year-old.
But the cash-strapped club currently find themselves in financial trouble, and the report speculates that they may not be able to afford to purchase Kondogbia outright should another club offer £5m.
That could allow City to steal in to sign the highly-rated youngster, but the defending Premier League champions would likely face competition from a host of Europe's top names, including Real Madrid.
Jose Maria del Nido, Sevilla's club president, confirmed the £5m clause in Kondogbia's contract, but insisted as long as his side are in contention for Europe, they wouldn't consider selling the midfielder.
"We are not discussing the possible departure or arrival of any player because we still have the chance of getting into the Europa League," said del Nido as reported by talkSPORT.
"It is true that with an offer of €6m, Sevilla are required to negotiate buying the remaining 50 per cent [from Doyen]. But, this has been the case with many players when they have come to be sold on.
"Sevilla hold 100 per cent of Kondogbia's rights. No one can talk to the player without our permission and he has four-and-a-half years left on his contract."