The 23-year-old France international has started just three Premier League matches this season and is becoming increasingly frustrated with his lack of opportunities.
Despite Reece James' ongoing injury problems, Gusto has fallen behind young defender Josh Acheampong in the pecking order, raising doubts about his future in west London.
According to reports, Chelsea have previously placed a valuation of around 85 million euros on the defender, with Manchester City emerging as a potential destination.
Gusto is reportedly keen on a move to the Etihad Stadium, where he could reunite with former Chelsea manager Enzo Maresca.
The former Lyon defender joined Chelsea in January 2023 on a seven-and-a-half-year contract and has since made 100 appearances for the club.
With the January transfer window approaching, Gusto is expected to assess his options as he looks for more regular playing time.