Manchester City have relied heavily on the exploits of Erling Haaland this season and could look to alleviate the Norwegian's goalscoring burden in January.
Bournemouth attacker Semenyo is understood to have a £65 million release clause in his Cherries contract which is active during the first two weeks of the upcoming winter transfer window.
Should Manchester City choose to pursue a move, Pep Guardiola's side would not be the only club interested in completing a deal at such a price.
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Manchester City may enter January transfer race for Antoine Semenyo
MANCHESTER, ENGLAND - NOVEMBER 02: Antoine Semenyo of Bournemouth after his sides 3-1 defeat with Erling Håland and Head Coach Pep Guardiola of Manchester City during the Premier League match between Manchester City and Bournemouth at Etihad Stadium on November 02, 2025 in Manchester, England. (Photo by Robin Jones - AFC Bournemouth/AFC Bournemouth via Getty Images)
Antoine Semenyo of Bournemouth after his side's 3-1 defeat with Erling Haaland and Pep Guardiola of Manchester City(Image credit: Getty Images)
Although Liverpool are understood to be reluctant to commit further resources to transfer expenditure in January following a large summer outlay, the Reds cannot be ruled out as a possible competitor for Semenyo's signature.
Current Anfield sporting director Richard Hughes brought Semenyo to the Vitality Stadium from Bristol City in 2023 when he fulfilled a similar role for the south-coast club.
Signing Semenyo would, theoretically, help Manchester City keep pace with league leaders Arsenal during the busy festive period.
The Etihad club are set to lose Egypt forward Omar Marmoush for up to five weeks due to the Africa Cup of Nations (AFCON), however, Semenyo's arrival would at least ensure Guardiola's stable of forwards remains suitably staffed.
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According to The Times, Manchester City are reluctant to let Marmoush join up with his international teammates on December 14 when Egypt are scheduled to contest a warm-up friendly.
This is due to the fact Manchester City have a Premier League encounter with Crystal Palace on the same day and would like to retain Marmoush's services for as long as possible pre-tournament.
The Gunners are not expected to lose any players to AFCON, while Manchester City are set to be without Marmoush (Egypt) and Rayan Ait-Nouri (Algeria).
AFCON 2023 Senegal's players hold the trophy after winning the Africa Cup of Nations (CAN) 2021 final football match between Senegal and Egypt at Stade d'Olembe in Yaounde on February 6, 2022. (Photo by CHARLY TRIBALLEAU / AFP) (Photo by CHARLY TRIBALLEAU/AFP via Getty Images)
The AFCON trophy is held aloft by Senegal players, 2022(Image credit: Getty Images)
Fellow Premier League title contenders Chelsea are also unaffected by the mid-season competition.
Ghanaian international Semenyo will not make an appearance at the tournament because the Black Stars have failed to qualify for the first time in 21 years.