Phillips is open to leaving Manchester City on loan in the winter window after being a bit part player at the Etihad again this season.
The midfielder has several suitors in England and abroad, with Newcastle and Juventus believed to be chasing him at the moment.
Manchester City are unlikely to be keen on loaning the midfielder out to a Premier League side, while being more open to that option if he leaves England.
Juventus have been working on trying to sign Phillips on loan, but according to Italian outlet TuttoJuve, his wage demands remain an obstacle.
The England midfielder has been emerging as the top target for Juventus ahead of the winter window.
However, Juventus are still not sure about committing big money on his wages on a loan deal.
Manchester City could have to pay a significant portion of his wages if Phillips is to join Juventus on loan in January.