Dzeko has failed to make an impact at City since joining the club from Wolfsburg in January.
The Sun reports that Real Madrid boss Jose Mourinho is ready to make a £20million bid for the striker who joined City for £27million in January.
Dzeko signed a four-and-a-half-year deal when he joined City in January.
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Liverpool have unveiled their new home kit for next season, sticking with the hugely popular retro styling of the current shirt.
The reputation of the Premier League means it is the most popular and one of the most watched leagues in the world.