Bayern Munich, Real Madrid, Barcelona, Inter Milan and Atletico Madrid are among the European clubs to have shown an interest in signing the defender on a free transfer.
Market regulations mean Guehi can sign a pre-agreement with an overseas club from this month.
Guehi came close to joining Liverpool for a fee of £35million last summer, but Palace pulled the plug on the deal during the final hours of deadline day.
The Anfield club remain heavily interested in Guehi and it now remains to be seen if they are prepared to bring their plans to sign the player on a free transfer this summer.
City and Liverpool are both interested in taking Guehi on a free transfer at the end of the season.
It is understood Palace would consider selling Guehi this month to avoid the scenario of losing their captain for nothing come the end of the season.
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