The Toffees star has long been courted by the Premier League's top clubs but no move materialised over the close season.
That was despite reported interest from the likes of Manchester United but close neighbours City have now confirmed their interest.
And despite Mancini's attempts to create a side of potential champions, he knows any swoop in January for Rodwell is likely to end in failure.
The Italian has the resources to move for the injured England Under-21 international but he told the Daily Star Sunday: "We put English players in the team but it isn't easy because all the clubs that have English players won't sell.
"I like Jack Rodwell but will Everton sell? Impossible. If I can, I give young players a chance.
"I was just 16 when I first played in Serie A."