The 29-year-old moved to the Catalan giants on loan in the closing stages of last summer's transfer window, and he has made 30 appearances for Xavi's side this season, scoring three goals and registering four assists.
As it stands, Cancelo will return to Man City this summer, and he has another three years left to run on his contract with the reigning Premier League champions.
However, the Portugal international is not expected to be a part of the English club's squad for the 2024-25 campaign, as his relationship with Citizens head coach Pep Guardiola is said to have broken down.
Barcelona are working to sign Cancelo permanently this summer, but the deal is complicated due to the Catalan outfit's well-documented financial problems.
A recent report claimed that the La Liga champions are unlikely to offer more than €20m (£17m) to sign the right-back during this summer's transfer window.
During the presentation of Ronald Araujo's documentary, as quoted by Mundo Deportivo, Cancelo said «yes, yes» when asked whether he wanted to remain at Barcelona next year.
Another loan move for the 2024-25 campaign is believed to be a possibility, although Man City are likely to insist on an obligation to purchase to be inserted into the agreement for the summer of 2025.
Cancelo has scored twice and registered three assists in 23 La Liga appearances this term, while he has one goal and one assist in seven outings in the Champions League.
The Portuguese was signed to operate on the right of Barcelona's back four, but he has found himself at left-back in the second half of the campaign due to Alejandro Balde's
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