Earlier this week, ESPN reported that both Al Ittihad and Al Nassr had approached the English Premier League champions, making offers for the Brazil international believed to be around PS25 million ($32 million).
The response was that both parties are surprisingly open to the idea, but while Ederson is seemingly willing to make a move to the Saudi Pro League side, City expect a fee of around PS40 million ($51.6million) in return.
That price immediately deterred Al Nassr, who on Friday signed Athletico Paranaense goalkeeper Bento, but rivals Al Ittihad - home to N'Golo Kante, Fabinho and Karim Benzema - reportedly maintain strong interest in a deal.
Ederson has of course been Pep Guardiola's first-choice goalkeeper for the last seven seasons and has two years left on his contract, the Coach valuing his ability on the ball almost as much as his shot-stopping prowess.
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Donnarumma's situation changing in Paris However, it seems City have wasted little time in identifying a replacement should they lose their man, with La Gazzetta dello Sport quickly linking them to Italy Captain Gianluigi Donnarumma.
Moving to PSG after the Azzurri won the UEFA European Championships in 2021, he established himself as first-choice at the Parc des Princes and has made 114 appearances for the club.
Winning Ligue 1 in each of his three seasons there, Donnarumma has only enhanced his reputation as one of the world's best goalkeepers, recording 29 clean sheets in 80 league appearances.
According to FBRef, he conceded just 0.97 goals per 90 minutes last term, saving 80.2% of the shots against him. That figure puts Donnarumma in the 98th percentile across Europe's top five leagues, and while Ederson concedes just 0.87 goals per game, he saved just 67.4% of the shots against him (25th percentile).
City will also be acutely aware that Donnarumma is still just 25 years old while Ederson is about to turn 31, while PSG's EUR20 million ($21.69 million) acquisition of Russia goalkeeper Matvey Safonov will also be a factor in helping persuade the French side to do business.
How AC Milan would benefit AC Milan will undoubtedly be monitoring the situation closely, as the rules on a "solidarity contribution" - established in Annex 5 of the FIFA Regulations - sees them set to profit from any potential move.
That rule states that 5% of any compensation "shall be deducted from the total amount of this compensation and distributed by the new club as a solidarity contribution to the club(s) involved in his training and education over the years."
Effectively, a club who develops a player in their academy is entitled to compensation from any future transfer fee for the of a player who was registered with them between the seasons of their 12th and 23rd birthdays, as follows:
5% (0.25% of the total benefit) for each year of age from 12 to 15 10% (0.5% of the total benefit) for each year of age from 16 to 23 With no concrete sums to work with, let's say for example that City pay PSG EUR60 million ($65.09 million) for Donnarumma then - according to FIFA's rules - 5% of that would become the solidarity contribution.
In that case, the sum would be EUR3 million ($3.25 million) and Milan would be owed roughly 75% of that as Donnarumma played for them between the ages of 15 and 22.
That would see the Rossoneri earn approximately EUR2.25 million ($2.44 million) for a player who left them for free just three years ago.
It would also see Manchester City sign arguably the best goalkeeper in the world.