The Croatian international was previously monitored by Barcelona as the club assessed options to strengthen their defence. His versatility is particularly attractive, with the 24-year-old capable of operating both centrally and at left-back.
According to reporting in Spain, Barcelona explored Gvardiol's situation during the previous season but found Manchester City unwilling to negotiate. The defender also showed no desire to leave, with the English club keen to retain one of their established players.
Gvardiol's position subsequently strengthened when he agreed a new contract running until June 2031. That commitment, alongside his salary and importance to City's plans, makes any potential transfer a complicated proposition for Barcelona.
However, uncertainty surrounding City's financial case could change the calculations. The club have faced allegations of breaches of Premier League financial regulations, which they have contested. Potential sanctions, should serious findings lead to punishment, could influence future recruitment and the decisions of players considering their long-term prospects.
Barcelona would not automatically be able to secure Gvardiol even if City's circumstances changed. His contract gives the Manchester club significant negotiating leverage, while the Catalan side must also consider the cost of a deal alongside their own financial constraints.
Gvardiol's profile nevertheless fits the type of defender Barcelona have sought. His physical strength, ability to defend space and confidence in possession make him suitable for a team that wants to build attacks from the back.
His capacity to play on the left also offers tactical flexibility, potentially allowing Barcelona to strengthen two defensive positions with one signing. That versatility is valuable when planning a squad across domestic and European competitions.
Barcelona have considered other defensive targets as they seek to improve their options, and Gvardiol's situation is likely to depend on developments at Manchester City rather than interest alone.
For now, there is no guarantee that the Croatian will become available or that Barcelona will make a formal approach. His reported reluctance to leave previously is another obstacle, even if circumstances at City change.
Any renewed pursuit would therefore depend on several factors: the outcome of City's financial proceedings, the player's wishes, the English club's valuation and Barcelona's ability to finance the move.
Gvardiol remains an attractive potential target, but his long contract and established position at Manchester City mean Barcelona would need a significant change in circumstances to turn their interest into a realistic transfer.