Manchester City transfer news: Rayan Cherki tracked by PSG and Real Madrid, with bids expected this winter?

Rayan Cherki, who is enjoying an excellent start to the season with Manchester City, is on the radar of Europe's biggest clubs, including PSG and Real Madrid.

Manchester City's start to the season has not been straightforward, following a heavy 3-0 defeat to Arsenal in the Community Shield.

Despite that, the Citizens managed to win their opening two Premier League fixtures, against Bournemouth (2-1) and Crystal Palace (4-1). Enzo Maresca in particular has Rayan Cherki to thank for those two victories.

Coming off the bench against Bournemouth, he made his mark with two assists late in the match to hand the Manchester club victory over the Cherries.

Starting against the Eagles, the 23-year-old scored twice, giving Manchester City some much-needed breathing room. Following a frustrating World Cup, the former Lyon player has therefore started the 2026-27 season on excellent form.

PSG, Real Madrid and Bayern Munich monitoring Rayan Cherki

His performances have not gone unnoticed on the market. According to Caught Offside, Real Madrid, PSG and Bayern Munich are closely tracking Rayan Cherki ahead of the January 2027 transfer window. For now, nothing suggests an imminent move, but the situation could change by January.

The Merengues are looking for an additional creative option for their attacking department, while the two-time reigning European champions, who had already wanted to sign him back in 2024, remain drawn to his profile. The Bavarian club, meanwhile, are searching for a quality creative forward as a long-term solution.

Manchester City hold a strong position in the Cherki case

Although these three European giants boast massive resources and highly attractive sporting projects,

Manchester City remain in a position of strength regarding Cherki. The midfielder is under contract until June 2030, and his market value appears to be rising by the day. It is worth noting that a source close to the British outlet values the attacking midfielder at around £77.4 million.

For now, it seems difficult to imagine the Citizens parting ways with the Lyon academy graduate, who is one of Erling Haaland's main providers of assists.

It remains to be seen, however, whether Enzo Maresca establishes Rayan Cherki as an undisputed starter, a status he has not yet truly achieved, and one that could potentially prompt him to consider his future.