The 21-year-old is yet to make a senior appearance for the Citizens since joining the club in 2020, and has instead gained first-team experience out on loan with Braga and Girona.
Couto spent a year with Girona and a year with Braga before returning to the former on a temporary basis for the 2023-24 campaign.
The Brazil international has played in 23 of Girona's 24 La Liga matches so far this season, scoring once and providing six assists, and is part of a squad that are surprisingly challenging Real Madrid for the title.
Couto most recently played for Girona in a top-of-the-table clash against Los Blancos, who comfortably beat the Catalan club 4-0 at the Santiago Bernabeu last weekend to move five points clear at the summit.
Real Madrid have allegedly been keeping tabs on Couto's performances at Girona this season, with some media outlets claiming that they view the right-back as a cheap option to strengthen their backline this summer.
However, according to Bernabeu Digital, Couto's most recent performance against Real Madrid has 'raised some doubts' internally about whether he would be a suitable summer signing for Carlo Ancelotti's side.
Couto was run ragged by Los Blancos winger Vinicius Junior throughout the contest and was seen visibly upset after the full-time whistle as Girona lost ground on their rivals in the title race.
The youngster is due to return to Man City when his second loan spell at Girona expires at the end of the season, but his long-term future at the Etihad Stadium remains uncertain.
At the end of last year, Couto expressed his decide to play at the highest level, but admitted that he is
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