Goal understands Dybala has been earmarked as a key summer target by the Premier League champions, who will look to heavily reinvest in their squad with a view to significantly boosting their forward options.
Dybala, who is currently enjoying a breakthrough campaign and has been scouted by a number if Premier League clubs, has already declared it a "dream" of his to join City.
"When I play with the PlayStation, I always choose Barcelona or Manchester City," he told Guerin Sportivo earlier this month. "I dream to play one day with one of those clubs."
Napoli have been among a string of Italian clubs to have been linked with the 21-year-old but Zamparini, who has previously stated his relationship with the player has deteriorated and expects him to leave next summer for around €40 million, insists it would be impossible for another Italian club to afford him.
"Paulo Dybala, although very young is one of the best strikers in the world," Zamparini said. "His future? The problem is not the boy but his agents. I am sorry for this. I've been to London and I have received calls from all over Europe.
"I would be happy Napoli bought him, but I don't think he is within their reach. Dybala is out of reach of all Italian companies."
Dybala was retained last summer as Zamparini sold Abel Hernandez and Kyle Lafferty, the stars of their succesful team which earned promotion from Serie B, and has since become an iconic figure for the club.
He has scored 11 goals and provided seven assists in 22 league matches this season, attracting interest from a number of high-profile clubs in the process.
After powering to the title last season, scoring 102 goals in the process, City have struggled offensively by comparison this time around, averaging just over two goals a game.
Wilfried Bony was brought to the north west during the winter transfer window for around £27m after Alvaro Negredo was sent to Valencia on loan last summer following just one season at the Etihad Stadium.
Stevan Jovetic, a £22m purchase in 2013, and Edin Dzeko, brought in for £27m in early 2011, will both be moved on this summer in a bid to recoup around £45m in transfer fees and free up around £200,000 per week in wages in a bid to help the club rejuvenate their forward line.