However, Phillips is said to be prepared to leave City amid fears his lack of playing time may affect his chances of being selected for England.
PSG remain in contact with the representatives of Chelsea and France midfielder N’Golo Kante, 31.
Napoli value 24-year-old Nigeria striker Victor Osimhen, who has been linked with Chelsea and Manchester United, at a minimum of 150m euros (£131.7m).
Tottenham made contact with former Bayern Munich boss Julian Nagelsmann’s camp at the weekend, with the club wanting to talk to candidates to replace Antonio Conte as soon as possible.
Tottenham chairman Daniel Levy is waiting to hear if Nagelsmann is open to joining Spurs, with Real Madrid and Chelsea also interested in the 35-year-old.
Bayern Munich’s squad has split into two factions over the decision to sack German manager Nagelsmann.
Antonio Conte plans to recharge his batteries before any return to management, with Inter Milan, AC Milan, Juventus and Roma all keeping him in mind.
Leeds United striker Rodrigo, 32, will likely have to take a pay cut if he is to sign a new contract at the club. The Spain attacker’s current deal is due to expire in the summer of 2024.
England forward Bukayo Saka, 21, will earn close to £15m a season when he finally signs his new contract with Arsenal.
Chelsea face having to raise substantial amounts of money by selling off players this summer to avoid breaching the Premier League’s financial rules next year.
Liverpool have yet to open contract talks with former England midfielder James Milner despite Jurgen Klopp wanting to keep the 37-year-old for another year.
Tottenham are among a number of Premier League clubs interested in Brighton and Republic of Ireland striker Evan Ferguson, 18.
Borussia Dortmund want to sign 19-year-old Northern Ireland midfielder Shea Charles from Manchester City.
Barcelona will have to sign at least three to four players on free transfers this summer as they work within a tight salary budget.