Real Madrid, Paris Saint-Germain and Bayern Munich are all keeping tabs on Rayan Cherki, according to sources cited by CaughtOffside on transfer deadline day.

The Manchester City playmaker has emerged as a rare figure of light for the club since Pep Guardiola’s exit, and the timing of the report is no accident. Cherki tore Crystal Palace apart on Friday, scoring twice in a 4-1 win at Selhurst Park after a two-assist cameo on the opening weekend against Bournemouth.

No bid has landed at the Etihad, and City are not looking to sell. The club see Cherki as one of the attacking pillars of the post-Guardiola side under Enzo Maresca.

Three clubs, three different reasons

Real Madrid view the Frenchman as a creative option who can float between midfield and attack. PSG see a chance to bring one of France’s most gifted young players back to Ligue 1. Bayern Munich are running the rule over him as part of a longer-term hunt for attacking flair, per the same sources.

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The €90 million estimate carried in the same report is a valuation from those tracking him, not an asking price City have quoted publicly.

Why the timing matters

The story lands during a summer of upheaval at the Etihad. Guardiola stepped down after a decade in charge, and Maresca was appointed on 29 June on a three-year deal.

Rodri also departed, heading to Barcelona for an initial £65.4 million after seven seasons and 298 appearances. Losing the 2024 Ballon d’Or winner from the middle of the park has stripped City of a spine and thrown fresh spotlight on the attacking players Maresca still has around him.

Cherki looks to Maresca

After his double at Palace, Cherki made clear where his focus sits.

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“I want to show Enzo I can play balls for Haaland, and help him score goals.”

Cherki joined City from Lyon in June 2025 for €36 million, arriving with 12 goals and 19 assists across Ligue 1 and Europa League play the previous season. The move was billed as an offset for Kevin De Bruyne’s departure on a free transfer.

No formal offers from Madrid, Paris or Munich are on City’s desk. What sources describe is a watch-and-wait pattern, with the January window not opening for another four months.

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