The 33-year-old has now entered the last 12 months of his contract at the Etihad Stadium, and his long-term future has been shrouded in uncertainty for a few months now.
An extension with Pep Guardiola's side has been mooted, but there has not been any significant movement on that front, leaving the Citizens at risk of losing him for nothing in 2025.
The former Wolfsburg and Chelsea man recently insisted that he would naturally consider an "absurd" offer that came his way from the Saudi Pro League, albeit while insisting that he would likely continue at Man City.
A recent report also claimed that the Premier League champions were expecting De Bruyne to stick around for the 2024-25 campaign, which would be his 10th in a Man City kit since his 2015 arrival.
De Bruyne 'edges closer' to Al-Ittihad
However, TEAMtalk claims that the 33-year-old has now given the thumbs-up to a big-money contract from Al-Ittihad, who currently employ Karim Benzema and N'Golo Kante.
The report adds that the former Saudi Pro League champions will now enter talks with Man City to discuss a fee for De Bruyne, whom Guardiola is prepared to bid farewell to this summer.
The Citizens head coach has supposedly been preparing for De Bruyne's eventual exit for a while, as the Belgium international seeks out a new adventure following nine glittering years at the Etihad.
In that time, De Bruyne has registered 102 goals and 170 assists in 382 contests, including six strikes and 18 assists from 26 matches across all competitions during an injury-hit 2023-24 campaign.
The 33-year-old has collected six Premier League winners' medals with Man City, in addition to winning the Champions League, Club World Cup, UEFA Super Cup, two FA Cups, five EFL Cups and two Community Shields.
Who could replace De Bruyne at Man City?
There is an argument to be had that De Bruyne belongs in the irreplaceable category of footballers, but Guardiola is already said to have identified a handful of creators who could step into the Belgian's shoes.
Two Bundesliga-based Germany internationals in Jamal Musiala (Bayern Munich) and Florian Wirtz (Bayer Leverkusen) are on the Citizens' wishlist, although the latter is also being targeted by Real Madrid for a transfer in 2025.
Benfica's Joao Neves - also linked with Manchester United - is another target in mind, but the Portuguese starlet possesses more of a defensive profile and also has a £105m release clause in his contract.
Paris Saint-Germain's Xavi Simons would not prove so expensive, but Guardiola will have to engage in battle with former side Bayern Munich, who have supposedly agreed personal terms with the Dutchman.
It has also been claimed that the reigning Premier League champions are on the verge of signing RB Leipzig attacker Dani Olmo, who played a crucial role in Spain's Euro 2024 triumph.