But Kevin Keegan is only interested in offering a six-month deal, because he is hoping Geert de Vlieger and Nicky Weaver will be fully fit by then and he doesn't want to be left with an extra keeper on his hands.
Waterreus though has told PSV's website that no official approach has been made by City.
- A Blues spokesman has said the same of Monaco, who claim to be waiting for a decision from Nicolas Anelka on whether he wants to join the Champions League finalists.
Monaco have also targeted Barcelona's Argentina striker Javier Saviola.
"We are waiting for Anelka and Saviola's decisions," said a Monaco spokesman.
"We have been conducting parallel negotiations with both players for a while and we should know more soon."
But their sporting director Henri Bianchieri said yesterday: "We cannot pay his full wage because as everyone knows Monaco has serious economic problems."