Fresh off the back of Australian international Harry Kewell's move to Melbourne Victory, Sydney are reportedly eager to make a marquee signing of their own, with 32-year-old Emerton said to be their ideal target.
In addition, Sydney have also been linked with a move for old boy David Carney, who is currently on the books of Blackpool but has failed to establish himself as a first-team member for the Tangerines.
According to The World Game, Sydney chief executive Dirk Melton has confirmed the club's interest in both players.
"There are still nine days left to the end of the transfer window so anything can happen," Melton said.
"Emerton has a year left on his contract [but] Carney has said he wants to play in Europe.
"[Nonetheless] they are both quality players and it would be wonderful if either one of them came to play for us.
"We need players that can help us connect to all key stakeholders ranging from fans and members, the broader community, corporate partners and the media."
Emerton has been one of Australia's finest football exports, having played over 290 games for Blackburn after a successful three-year spell in Holland with Feyenoord where he was part of their 2002 UEFA Cup-winning side.