Kolarov has just one more year on his contract, leading to rumours that the Premier League title hopefuls could cash in on the full-back before next season.
Roma have been tipped as a potential destination, with Rudi Garcia looking to bolster his squad ahead of a UEFA Champions League campaign next season.
However, the player's representative, Dejan Joksimovic, believes the Serbia international will not make the switch to Stadio Olimpico due to his high wage demands.
"I can tell you that Roma are following him but there are problems," he told AS Roma Radio.
"Firstly he has a contract for €3.5 million for another year with Manchester City, so it would be difficult because Rome cannot pay these figures."
Joksimovic went on to reveal that several Serie A giants and Ligue 1 outfit Monaco are interested in the 28-year-old but there are no firm offers currently in the pipeline.
He added: "There are other teams that are following him like AC Milan, Juventus, Inter, Monaco and also a few Russian teams are now also willing to pay his wages.
"So for now we do not know anything and there is nothing concrete."
Kolarov has often played second fiddle to Gael Clichy at the Etihad Stadium, though he has made 27 Premier League appearances for Manuel Pellegrini's charges this term.
