Reports emanating out of Serie A claim that Inter have set their sights on Richards as they look to rebuild for 2013/14.
New coach Walter Mazzarri is a long-time admirer of the 25-year-old England international and would welcome the opportunity to add his experience to his ranks.
Richards has hinted that he would be prepared to spend his entire career at City, with contract extension talks being held, but no agreement has been reached as yet.
That is keeping the transfer door ajar for Inter, with Dario Canovi admitting that anything is still possible.
He told interlive.it: "I personally have not been contacted by the Nerazzurri but it is possible that Inter are interested because I know for a fact that Mazzarri really likes him.
"He wanted Micah when he was at Napoli, he is an ideal player for his defence and would not fit well into Rafa Benitez's game (at Napoli).
"What is Richards' situation at Manchester City? They have offered a new contract, but Richards has not accepted as yet."