The 26-year-old has established himself as a fans' favourite at St James' Park since arriving from Lyon in January 2022.
Guimaraes has made a total of 96 competitive appearances for the Magpies, contributing 13 goals and 13 assists.
Despite being regarded as a key player in Eddie Howe's side, Guimaraes has seen his future become the subject of transfer speculation in recent times due to Newcastle's financial situation.
The Magpies may need to raise funds from player sales before they can reinvest in the squad if they are to stay within the Premier League's Profit and Sustainability rules.
Although Guimares hasinsisted he is happy at the club, he is said to be attracting interest from the European Champions, Man City.
According to AS, the Citizens have already made initial contact with the player's representatives ahead of a potential summer move.
The report claims that Man City are keen to bring in a new holding midfielder, and Guimaraes has been identified as one of their leading targets.
While he has a contract with Newcastle until June 2028, the Brazilian's deal is said to contain a £100m release clause.
Amid the speculation, Man City boss Pep Guardiola talked up Guimaraes' qualities ahead of Saturday's FA Cup quarter-final against Newcastle.
Man City are expected to face competition for Guimaraes's signature, with PSG set to renew their pursuit after showing an interest in the January window.
Barcelona are said to be admirers of the midfielder, but their financial situation could hinder their chances of agreeing a deal.
Man City's Premier League rivals Liverpool and Chelsea could also decide to launch a summer
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