With just over a year remaining on his contract, Sane is expected to leave for Bayern Munich during the next transfer window.
While there is uncertainty over the club's participation in Europe next season, City seemingly intend to bring in a big-money alternative to the Germany international.
According to the Daily Mail, the Premier League outfit have been left impressed by the development of Jamaican wideman Bailey.
Although the 22-year-old has only contributed five goals and one assist in the Bundesliga this season, he has been limited to seven starts and nine substitute outings.
Leverkusen will allegedly be open to a sale if they receive an offer in the region of £40m. body check tags ::