The club's transfer business this summer may force an existing squad member out of their first team.
The news comes after City signed three non-English players this summer - Willy Caballero, Bacary Sagna and Fernando - with the possibility of one more still to come in centre-back Eliaquim Mangala.
City can only use a maximum of 17 foreign players in the Premier League, so Mangala's signing would mean the club would have to part with one. Here are four candidates:
City may be keen on allowing the striker to leave to free up a space for a non-homegrown player but also to recoup transfer funds to take Uefa's financial fair play into consideration.
Negredo made a big impact when he arrived in Manchester but a dip in form saw the Spaniard fall out of favour and miss out on Spain's World Cup squad.
|Team||Pos||Goals||Goal Assist||Won Contest||Aerial Won||Apps||Mins|
|Sergio Agüero||Man City||FW||17||6||43||9||23||1,539|
|Edin Dzeko||Man City||FW||16||1||12||86||31||1,991|
|Álvaro Negredo||Man City||FW||9||3||11||50||32||1,725|
|Stevan Jovetic||Man City||FW||3||1||15||2||13||360|
As Opta stats show, though, Negredo was still given plenty more game-time than Stevan Jovetic, who only scored three league goals and registered one assist in the Premier League for City.
However, the 24-year-old's season was plagued by injury troubles and Pellegrini could still judge Jovetic to have more potential than the likes of Negredo or even Edin Dzeko.
If it comes to the Manchester City boss prioritising experience, though, he may consider loaning the Montenegro forward out next term.
If Pellegrini would prefer to keep a full set of strikers, he may consider omitting midfielder Javi Garcia, who scored no goals and registered no assists in the Premier League last season but operates in defensive midfield.
|Team||Pos||Tackles Won||Interceptions Won||Pass Accuracy (%)||Goals||Assists||Apps||Mins|
|Yaya Touré||Man City||MF||37||24||90.13||20||9||35||2,927|
|Samir Nasri||Man City||MF||33||20||91.52||7||8||34||2,498|
|James Milner||Man City||MF||28||10||84.00||1||4||31||1,358|
|Jesús Navas||Man City||MF||28||19||85.76||4||7||30||1,774|
|David Silva||Man City||MF||26||15||88.18||7||9||27||2,173|
|Javi García||Man City||MF||21||32||90.14||0||0||29||1,527|
As Opta stats show, Garcia won less tackles than any other regular City midfielder, although he won more interceptions than any bar Fernandinho. His passing accuracy was also impressive - but his lack of threat going forward could make him the perfect sacrificial lamb.
A last option Manchester City could omit from their squad this season is Jesus Navas, who only scored four league goals for the club last term.
This option would perhaps appear unwise, however, as the winger did register seven assists in the Premier League and made 30 appearances over the course of the campaign. Still, with the likes of David Silva, Samir Nasri and more able to play out wide for City, it remains a possibility.
There is one more candidate, presenting an elephant in the room at the Etihad Stadium at the moment: Yaya Toure.
The Ivorian's future has been the subject of speculation this summer but, with more questions than answers around at present, City would surely prefer to keep the midfielder at the club if possible.