HITC Sport understands discussions have been opened as Orient cannot afford to keep top stars in League Two.
The 33-year-old is currently with Leyton Orient in League Two following their shock relegation last season.
McAnuff has a year left on his current deal at Brisbane Road, but as is the case with a number of players in their squad – Orient cannot afford to keep him in the fourth tier.
The Jamaica international spent five years with the Royals prior to his release in 2014.
He made over 200 appearances for the club in that time and has spent 13 years competing at a second tier level over the course of his career, having also taken in spells with Wimbledon, West Ham United, Cardiff City, Crystal Palace and Watford.