Liverpool, Tottenham, Everton and Newcastle have shown interest in signing the defender, who expects the Premier League champion to drop its asking price later in August.
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The defender is currently being priced out of a move but expects City to lower its demands towards the end of the transfer window or to allow him to spend the final year of his contract out on loan.
Richards, 26, has attracted interest from Liverpool, Tottenham, Everton and Newcastle and the clubs have promised that they will continue to monitor his situation.
But no team has shown any interest in meeting City's demand for a player with just a year left on his contract and no future at the Etihad Stadium.
Richards knows his chances under Manuel Pellegrini will be even more limited following the arrival of Bacary Sagna to compete with Pablo Zabaleta for the club's right-back spot.
Richards made just 10 appearances in all competitions last season and played just twice in City's Premier League title triumph.
The City academy product played a key role in the 2012 title victory but his career has since gone off track, with injury problems compounded by a lack of playing opportunities.
Richards has been capped 13 times by England but controversially refused to be on Roy Hodgson's standby list for Euro 2012.