The Spain international is eyeing a return to the LaLiga, just a year after leaving Celta for City.
Nolito has seen talks with Sevilla stall, though Celta remain an option.
Felipe Minambres, Celta’s sporting director, says a deal can be negotiated should City be realistic about a fee.
He told AS: “While he’s on the market, we are there. The figures would not be possible but the affection, yes.
“We will see what will happen.”