The City Football Group is said to be monitoring the 19-year-old closely, though no formal approach has yet been made, according to Argentine outlet El Intransigente.
Boca are reportedly already preparing for the possibility of an offer materialising in the coming weeks should that interest develop further, with the report adding another Premier League name to the list of admirers already circling one of the club's fastest-rising academy graduates.
Flores has progressed rapidly from the reserves to the first team over the past year, scoring 19 goals and providing five assists in 51 appearances for Boca's youth side before being given his senior debut by manager Rodolfo Arruabarrena.
He has since scored once in his first three matches for the first team, performances that have already prompted supporters to call for the right-footed forward to be given more regular minutes. Boca's hierarchy, led by club president Juan Román Riquelme, are said to be in no rush to sanction a sale and view the forward, whose contract runs until December 2029, as one of the club's most important long-term assets.
Brighton's interest was reported last week, continuing the Seagulls' well-established strategy of targeting South American talent before players become established stars. City's involvement adds further weight to suggestions that Flores' rise is being closely tracked well beyond Argentina, though Boca's contractual position means any move is likely to require a significant offer before talks progress.
Born Leonel Benjamín Flores, the forward's breakthrough at senior level began with a goal against Sarmiento in the Copa Argentina before he started against O'Higgins in the Copa Sudamericana, a display that earned him applause from the Boca crowd as he was substituted.
World Cup winner Leandro Paredes has also talked up his potential, describing him earlier this year as one of the standout prospects in Boca's academy.
With Flores contracted at La Bombonera for several more years yet, Riquelme's club remain firmly in the driving seat over his future, regardless of how much interest continues to build from Europe.