Manchester City and RB Leipzig have held talks about a new loan deal for Angelino for next season.
Left-back Angelino joined Leipzig in January for the rest of this season, an agreement that also included an option for the Germans to buy the 23 year-old for £25m.
The Bundesliga side cannot afford to activate that option but still want to keep the Spaniard. They are hoping to reach a fresh agreement with either a new option or obligation to buy next summer.
Angelino has impressed for Leipzig, helping them finish third in Germany's top division and also qualify for the Champions League last eight.