De Bruyne has seen his Man City future become the subject of much speculation, having entered the final 12 months of his contract.
The Belgian, who joined Man City in the summer of 2015, is yet to reach an agreement over a new deal, raising the prospect that he could walk away for nothing at the end of the 2024-25 season.
De Bruyne has emerged as a potential target for Al-Ittihad, who are seemingly keen to add the 33-year-old to a squad that already contains ex-Liverpool midfielder Fabinho and former Real Madrid star Karim Benzema.
On Sunday, it was reported that De Bruyne has agreed personal terms with the Saudi Arabia club, seemingly paving the way for Al-Ittihad to discuss a transfer with Man City.
De Bruyne yet to agree deal with Al-Ittihad
However, according to talkSPORT, there is no truth in the suggestion that De Bruyne has reached an agreement with the Saudi Pro League side.
The report also claims that the Premier League champions will demand £100m to part ways with the Belgium international this summer.
As a result of Man City's asking price, De Bruyne's potential suitors are seemingly prepared to wait to see if he becomes available on a free transfer next summer.
However, De Bruyne would prefer to move to Al-Ittihad's domestic rivals Al-Hilal due to their involvement in next year's Club World Cup in the USA.
Meanwhile, Al-Ittihad are currently focused on wrapping up a deal to sign French winger Moussa Diaby from Aston Villa.
Could one of De Bruyne's teammates leave for Saudi Arabia?
While a move for De Bruyne may not be imminent, Al-Ittihad could still prise one key player away from the Etihad Stadium this summer.
The Saudi Arabian club are believed to be considering a move for Man City's first-choice goalkeeper Ederson, who has two years left to run on his contract.
The Brazilian has also been linked with a switch to Cristiano Ronaldo's Al-Nassr, but they have pulled out of the race after failing with a £25m bid.
The Citizens are believed to be willing to entertain offers in excess of £30m, with Pep Guardiola ready to promote Stefan Ortega if Ederson does depart.
Alternatively, Al-Ittihad may decide to pursue a move for West Ham United goalkeeper Alphonse Areola as they look to strengthen their squad ahead of Laurent Blanc's first season in charge.