Despite his status as Pep Guardiola's undisputed number one, Ederson is believed to be keen to explore a new challenge after seven successful years at the Etihad Stadium.
The Saudi Pro League have been alerted to the 30-year-old's wishes, although he still has two years left to run on his Man City contract, which the Premier League champions are supposedly keen to extend.
However, HITC reports that talks between Ederson and the Citizens over a new deal have stalled, and Man City have now received a formal bid of £25m for the Brazil international from Saudi Arabia.
It is unclear which of the four Public Investment Fund-backed teams - Al-Nassr, Al-Hilal, Al-Ittihad or Al-Ahli - submitted the offer, but the report claims that the former club is Ederson's most likely destination.
Man City 'will not stand in Ederson's way'
Should the ex-Benfica man indeed join Al-Nassr in the coming weeks, he would reunite with former Man City teammate Aymeric Laporte, as well as linking up with Cristiano Ronaldo, Alex Telles and Sadio Mane.
The report adds that Man City would ideally be after £30m to sell their number one, who has kept 155 clean sheets in 332 matches for the club, winning a total of 17 major honours including six Premier Leagues and a Champions League.
However, Guardiola will not block any player from leaving the Etihad should they express a desire to move on, and in Ederson's case, City supposedly believe that current number two Stefan Ortega can fill the void.
Ederson has apparently 'made it clear' to Man City that he wants to end his seven-year stint in the Premier League this summer, and he could become the highest-paid goalkeeper in the world if he accepts Al-Nassr's offer.
The Middle Eastern powerhouses are supposedly prepared to pay the 30-year-old a staggering £500,000 a week to make the move to Saudi Arabia, and Man City have already started to scope out possible replacements.
Roma shot-stopper Mile Svilar is thought to be of interest to the Premier League champions, but the 24-year-old would likely arrive as a new number two to Ortega, who has impressed when given an opportunity under Guardiola.
Saudi Pro League 'working' on marquee goalkeeper signings
News of Al-Nassr's offer for Ederson comes after Al-Ittihad apparently had an offer turned down for Chelsea's Kepa Arrizabalaga, who is still the most expensive goalkeeper on the planet following his £72m switch from Athletic Bilbao.
Talks are continuing with the Blues in the hope of striking an agreement, and Kepa's possible switch to the Middle East could see him reunite with former rival Edouard Mendy, who joined Al-Ahli last year.
The Saudi giants are also believed to be plotting an ambitious swoop for Liverpool goalkeeper and Ederson's compatriot Alisson Becker, but the ex-Roma man has given no indication that he wants to leave Anfield.
As a result, the Saudi Pro League are currently prioritising a deal to sign Ederson, who cost Man City £35m to sign from Benfica in the summer of 2017.