The midfielder made 14 appearances for City last season, demonstrating his versatility by filling in for the injured Benjamin Mendy at left-back, despite being an attacking midfielder by trade.
Premier League newcomers Wolves showed a serious interest in the 21-year-old earlier in the summer, lodging a £16m bid, but the Ukranian rejecting to move in order to stay and fight for his place.
However, it now seems that he has had a change of heart as he closes in on a season-long loan move to Seville-based outfit Real Betis.
Zinchenko joined City back in 2016 from Russian side Ufa, but spend the 2016/17 campaign out on loan at PSV.