The 27-year-old Argentine has also been linked with another English side, Manchester United.
Clubs including Roma and Juventus can start negotiations with Banega at the start of the new year in order to conclude a deal which would see the former Valencia move at the end of the season for free.
At this stage though it is unknown if Banega has a preferred destination but he will not be short of options should be looking to move on from Sevilla.