This is according to the 27-year-old shot-stopper's agent, Tim Sukazi of Quality Talent Sports.
Khuzwayo's current contract with Amakhosi is due to expire at the end of the current season having joined the club from AmaZulu FC in 2012.
The four-time PSL champions are still hopeful of tying Khuzwayo to a new deal as talks between Sukazi and Chiefs football manager Bobby Motaung are scheduled to continue next week.
However, the former South Africa under-23 international will sign a new contract with the Soweto giants only if he is guaranteed to get game time.
Khuzwayo is eligible to sign a pre-contract with a team of his choice and Sukazi has not ruled out the talented shot-stopper's possible move to Chiefs' fierce rivals, Pirates.
"The rumours are there. People put one plus one together, but the fact of the matter is, as things stand today, Pirates have not made any formal approach to us," Sukazi told Sowetan Live.
Pirates are reportedly monitoring Khuzwayo's situation at Amakhosi, who boast arguably the best goalkeeping department in the PSL.
"Of course, if they do, to me they are like any other club. There will be nothing that will deter us from listening to them. This thing that floor crossing doesn't happen, I don't know where that is written," he continued.
Chiefs captain Itumeleng Khune is the club's first-choice keeper and one of the most consistent players in the PSL. Therefore, Khune is highly unlikely to be dropped in favour of second-choice shot-stopper Khuzwayo, who has made only 36 competitive appearances for Amakhosi since 2012.
"He needs to play, so at Chiefs he can't grow any further. He's been under the shadow of Khune as you know. He's a good goalkeeper to be a number one elsewhere. But he won't be the number one at Chiefs, and it's nothing bad. I mean, Khune is doing well," Sukazi explained.
"Look, when he [Khuzwayo] played, Chiefs won the league and Nedbank Cup [in the 2014/15 season]. Go and check, the last time Chiefs won the championship, Khuzwayo was in goal," he added.
"It's a train that's stuck, but I guess everyone was involved in things [during the past transfer window]. So I haven't seen the people from Chiefs in a long time. Bobby wants us to meet, but I don't know when, to see if we can discuss it further," Sukazi concluded.
Khuzwayo, whose last league appearance for Amakhosi was against SuperSport United at the FNB Stadium in August 2017, has played only two games this season.