Kevin de Bruyne's agent has refused to confirm if Man City have agreed a deal to sign the player after they reportedly submitted a £47m bid.
City have been interested in signing the former Chelsea player for some time but Wolfsburg have previously been insistent they have not received any offers from the Manchester club.
The 23-year-old, who struggled to break into the Blues' first-team under Jose Mourinho, has previously said he has had "informal contact" with City and the player's agent, Patrick De Koster, admitted on Monday that they are waiting to see if an agreement is made between the clubs.
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De Koster said: "I have read a lot of nonsense in the media. Kevin remains a Wolfsburg player and is focused on his job at the club.
"We are waiting to discover whether any agreement has been reached between the clubs. That is for the clubs to decide, and not for us. There is no medical planned at this stage, and he is happy at Wolfsburg."
Wolfsburg's managing director, Klaus Allofs, admitted the player has had his head turned by City's interest in him.
"I think some other clubs have definitely turned Kevin's head," Allofs told Kicker magazine. "Some huge figures are doing the rounds and I can understand why Kevin is leaving everything open.
"He's got to listen to the offers. I can't expect from him that he doesn't even want to entertain them."
However, the final decision rests with his club and Allofs has repeated over and over again that Wolfsburg are not willing to sell.
At the same time, he knows it is going to be difficult to keep De Bruyne in Germany for the remainder of his four-year contract.
"If he was only contracted to us until 2017, then yes, it would be different," Allofs told the Wolfsburger Allgemeine newspaper. "But let's be honest about it - it's highly unlikely that he'll stay with us right up until 2019."
De Bruyne had a superb season in the Bundesliga last term, scoring 16 goals in 49 appearances, having signed from Chelsea in the summer of 2014.
The Belgium international began his career at Genk before joining Chelsea in 2012 and being loaned straight back to his former club.