The Citizens are set to delve into the transfer market, with Mahrez on the verge of completing a move to the Saudi Pro League.
Mahrez was left out of Man City's squad for the pre-season tour of Japan and South Korea after it emerged that a £34.7m bid from Al-Ahli had been accepted.
The Algeria international, who joined Man City from Leicester City in 2018, is now set to put pen to paper on a three-year deal with Al-Ahli.
With Mahrez heading out of the exit door, the reigning European champions are scouring the market for attacking reinforcements.
According to 90min, Man City are considering Lyon's Barcola as a potential option to fill the void that will be left by Mahrez.
The report claims that Pep Guardiola's side are admirers of the 20-year-old after scouting him during the 2022-23 season.
After rising through the youth ranks at Lyon, Barcola has gone on to make 44 competitive appearances for the senior side.
The winger established himself in the first team during the second half of last season, helping him finish the campaign with seven goals and 10 assists in 31 matches.
Barcola, who is under contract until June 2026, is also attracting interest from French champions Paris Saint-Germain and Bundesliga side RB Leipzig.
Both clubs have made enquiries for the youngster, with PSG believed to be stepping up their pursuit after speaking with Barcola's agent Jorge Mendes.
Man City are also considering alternative options, including Barcola's Lyon teammate Rayan Cherki and Celta Vigo's Gabri Veiga.
A recent report claimed that Barcelona winger Raphinha is another name that another candidate to replace Mahrez at the Etihad Stadium.