The 32-year-old’s current contract with the Premier League leaders is due to expire this summer and an agreement is yet to be reached over a new deal.
Earlier this month, reports in Argentina claimed that Barcelona have already submitted a proposal to Aguero as they are keen for him to link up with his Argentina teammate Lionel Messi at Camp Noi.
But according to MailOnline, Chelsea are also in the race and are keeping tabs on Aguero’s current situation at City.
The report claims that Chelsea have been ‘long-term admirers’ of Aguero and are now weighing up a move to sign the striker on a free transfer this summer.
Aguero has started just four games in the Premier League this season due to injury and illness.
Speaking about Aguero’s future at City beyond the end of the campaign, Guardiola said this month: ‘As a human and as a person, even as a player of course but we have to see what happens at the end of the season.
‘We cannot forget how long he was out. He has started getting better. ‘I know he needs minutes to get to his best condition but we are not maybe in the moment to give him minutes for minutes because it is an important part of the season.
‘We have to be calm, the club will speak to his agent to know the situation and we are going to talk at the end of the season.
It’s the same with Fernandinho.’