Former club Everton and big-spending Manchester City have been linked with a move for the LA Galaxy forward during this summer's transfer window.
Donovan enjoyed an impressive six-week loan spell at Everton last season and the Toffees have never hidden their desire to bring the 28-year-old back to Goodison Park.
City are also thought to be monitoring Donovan's situation and are ready to battle Everton for his services if he becomes available.
Donovan, who has only recently returned to LA Galaxy after his World Cup exploits with the USA, says he is happy to be in America, but has refused to rule out a move back to England.
"Right now I want to be in America," said Donovan. "I absolutely love being here and I love getting back to my team-mates.
"As you know I never say never to anything and right now rumours are rumours.
"And if there is something serious to look at then I will, but for now I am very excited to be home."