Norwich and Derby are looking to bring in the Crystal Palace midfielder this summer.
Despite featuring in first-team training during the opening weeks of pre-season, Bannan has not been selected to travel with the Eagles on their tour of South America, and Alan Pardew is said to consider him as surplus to requirements.
The Scottish international spent the second half of last season on loan with Championship side Bolton, and with the arrival of Yohan Cabaye at Selhurst Park, he is even further out of the reckoning.
With his availability now on the market, there are two teams stated as being keen on signing Bannan this summer, with one Premier League and one Championship team interested in the 25-year-old.
Having spent a spell with Bolton last term, they are referenced in the report as potentially moving for Bannan, although there are no confirmations that the Trotters are actually interested in him.
Palace are willing to sell the midfielder, especially as he has just one year left on his contract in South London, and should either Norwich or Derby submit a concrete offer, it is likely that a deal will go through.