Bellingham has played a vital role in England's tournament so far, leading Southgate's side to victories over Iran and Wales in the group stage, before assisting the opening goal in the nation's win over Senegal in the Round of 16.
Manchester City are said to be one of the main clubs interested in the Borussia Dortmund midfielder, with the likes of Real Madrid, Liverpool, PSG, and Chelsea all keeping tabs on the 19-year-old.
According to The Transfer Exchange Show, for Man City to beat the other European giants to Bellingham's signature, the renewal of Ilkay Gündoğan's contract could be ignored, opening up funds for the England international.
Gündoğan's contract is set to expire next summer, after six seasons, 273 appearances, 51 goals and 35 assists with the current Premier League champions.
The 32-year-old was Pep Guardiola's original signing back in 2016, going on to score many important goals for the Cityzens and, most recently, taking the captain's armband at the club.
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