Ferraresi is part of the Mancunians Under-23s squad and has been on the books at the club since the summer of 2017.
The centre-back spent the last few seasons away from Manchester City on loan with the latest coming at Portuguese side Estoril Praia last term.
Manchester City do not see Ferraresi having a future at the club and they are open to selling him in the ongoing window.
And according to Brazilian outlet UOL, South American outfit Sao Paulo are eyeing a move for the defender.
The Brazilian top flight side have been evaluating the possibility of making move for Ferraresi for weeks now as they look to reinforce their defence.
Ferraresi is contracted at Manchester City until the summer of 2024, but the Citizens are determined to cash in on him this summer and have already rejected loan offers for him.
Despite interest, Sao Paulo are yet to make a bid for Ferraresi, who already has 19 international caps to his name for Venezuela.
