The Borussia Dortmund and England winger is celebrating this week after signing a new long-term deal at the Westfalenstadion worth £190,000-per-week.
Reports have claimed City and rivals Manchester United are both plotting bids in excess of £100million to bring him back to these shores, having seen Sancho light up the Bundesliga since his arrival in August 2017.
The blue side of Manchester do retain a 'matching' option should Dortmund eventually decide to cash in on the talented teenager - along with a 15 per cent sell-on clause.
However, City sources have stated Guardiola and club bosses were "disappointed" with the actions of the 19-year-old after he decided to go in search of regular senior first-team football, elsewhere.
Sancho was only seventeen at the time and went AWOL after refusing to go on City's pre-season tour to the United States, entering the final year of his contract.
The Londoner also rejected a new deal which would have made him the highest-paid youngster in City's history on around £30,000-per-week.
The Premier League champions were eventually forced to accept a £10m figure from Dortmund and that has not been forgotten by either Guardiola or the top-brass.
Sancho scored 13 times for Dortmund last season and created 15 assists, with a report by CIES Football Observatory rating him the fifth most-valuable player on the planet at £145m.
City are happy for their former charge but Guardiola has a long memory on how it eventually played out, preferring to work with midfielder Phil Foden, who listened to his advice and was willing to wait for his chance.
The news could be welcomed across Manchester at United with their boss Ole Gunnar Solskjaer thought to be keen on adding more new faces to his ranks in January.
Despite spending over £150m on three new faces in the summer transfer window - Harry Maguire, Aron Wan-Bissaka and Daniel James - the Norwegian could be about to offload Alexis Sanchez, while the future of Paul Pogba remains in doubt.
If that pair are sold and their wages are removed from the bill, a swoop for Sancho cannot be completely ruled out regardless of the mega new deal he has penned in Germany.
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