The 20-year-old has been in outstanding form for Arsenal recently, netting four goals in his past three outings.
Bukayo Saka has been a key figure in Arsenal’s recent resurgence, with Mikel Arteta’s team presently in fourth place in the Premier League.
However, Parlour, who won three Premier League titles with Arsenal throughout his time, feels Saka would pique Guardiola’s and City’s attention.
‘I think the young team [at Arsenal] has a lot of potential to develop and improve,’ Parlour told talkSPORT.
‘Do you know what the most difficult part is going to be? It’s about retaining the players.
‘You’re aware of [what has occurred] over the years. Saka must be on every club’s radar all day, and a top team like Manchester City will be looking at him and thinking within themselves, “He’ll help us.”
‘Smith Rowe, I understand he didn’t start, but he’s come a long way. Odegaard appears to be a different player now, as though he’s having a great time playing football.
‘If you look at it, every single player’s age group is extremely, very healthy.’ Tierney is just 24, Gabriel is still in his early twenties, Ben White is still in his twenties, Tomiyasu at right back is still in his twenties, and Ramsdale is still in his twenties aswell.
They can come closer to clubs like Manchester City, Chelsea, and Liverpool if they stick together and improve together, but they are still a long way off at the present.’