The South Africa international, who is currently on the books of Danish side Randers FC, will be a free agent at the end of the current season.
The Superliga side decided against extending the attacking midfielder's contract with the player having fallen out of favour since last season.
However, Daily Sun now reveals that Pirates assistant coach Rhulani Mokwena was keen to lure Masango to the Soweto giants during the January 2018 transfer window, while City had made the talented player a good offer which he rejected.
“City management were prepared to pay him a good salary, but he turned it down," the source said.
"Pirates assistant Rhulani Mokoena had shown some interest, but the chairman wasn’t prepared to sign him," the source disclosed.
The Mpumalanga-born player is said to have returned home after Randers stopped paying for his accomodation in Denmark.
“Masango’s been around for seven months now. He had a problem in Denmark as they were no longer paying for his accommodation. He asked management to return home," the source concluded.
When approached for comment, Masango told the publication that he was not ready to talk about his future.
“I’m not prepared to talk right now. I’ll call you when I’m ready," the former South Africa under-23 international said.
The speedy winger spent the second half of the 2016/17 season on a loan at SuperSport from the Randers.
Masango enjoyed regular game time at Matsatsantsa, helping the team defend the Nedbank Cup.
It remains to be seen if Masango will return to the Tshwane giants in the upcoming transfer window which is set to open in July, 2018.