Yaya Toure will arrive back in London later this week and believes he can still play in the Premier League.
Toure left Olympiakos 'by mutual agreement' on Tuesday after three months and just five appearances.
Christmas is for football
Get Sky Sports Premier League and Sky Sports Football for just £18 a month
Sky Sports News has been told Toure's 'pay as you play' deal proved problematic for the Greek Super League club as they came under increasing budget restrictions.
The 35-year old has already turned down renewed offers from both the Chinese Super League and the MLS.
His family home is now in London and Sky Sports News has been told he has kept himself fit since his last competitive match on November 8, a 5-1 win in the Europa League against Dudelange.
In a statement, Olympiakos said: "Yaya is and remains an important member of the Olympiakos family, who has marked a central part of the history of the club. Olympiakos would like to thank him for everything he has offered to the club.
"Yaya will remain deeply devoted to the club and wishes to Olympiakos lots of success. Yaya is leaving as a friend and the doors at Olympiakos will always be open for him. Our paths will surely cross again."
Toure was released from City after scoring 59 goals in 230 matches for the club, winning the Premier League title on three occasions.