According to The Athletic, Arsenal are actively pursuing a deal for the 16-year-old and City could command around £10m-£15m.
Monga signed fresh terms last June, starting an academy scholarship at 16 that converts into a professional contract on 10 July, his 17th birthday. That position enables City to demand a fee this summer.
It has been reported that Manchester United, Manchester City, Chelsea, Tottenham, Newcastle United and Leeds United have registered interest in England. RB Leipzig and Bayer Leverkusen have also been mentioned.
The winger became Leicester’s second-youngest appearance maker and the second-youngest Premier League debutant in history at the end of 2024/25.
Relegation to League One has tightened finances, yet City do not necessarily need to sell. Wage savings from departures and potential sales of Abdul Fatawu or Ben Nelson could help, while any Monga fee would be classed as pure profit.
Premier League interest is a problem two divisions below the top flight, and an eight-figure offer might be difficult to refuse. From the player’s side, the pull of Arsenal and learning alongside Bukayo Saka or England youth team-mate Max Dowman is obvious, though a full League One season at Leicester could suit his development better than a season or two in Premier League 2.