However, the 27-year-old, who joined the Premier League side from Lazio in 2010, has hinted that he will decide against signing a new deal at City.
"There were a lot of things said in the papers, but I never said I wanted to go," the Serbian told reporters at a press conference.
"I have two more years of contract at City, so I'm focused on working hard in training and, when I have the chance to play, giving my best. I am happy at City and one or two years - we'll see what happens."
Kolarov has made just 20 league starts in the last two seasons.