The 26-year old is yet to make a Premier League appearance since joining from Politehnica Timisoara in 2011, but he has regularly been used in cup competitions for City.
Pantilimon had been linked with a move to Italy, although agent Ion Timofte insists he is unsure where his future lies.
"There has been no contact with Fiorentina or with other Serie A sides," Timofte told calciomercato.it.
"I don't know if Costel will remain at Manchester City, the market is not officially opened yet.
"Going to play in Italy? It's a beautiful country, but then I repeat - for now there is nothing."