If anyone wants him I'd think it's likely. There's enough room in the squad for 4 CBs And Otamendi is kind of the most obvious one to go.
Assuming Stones is the long term Pep project, the guy he sees as his Pique. Regardless of how dodgy he was at times last season Pep thinks he'll be one of the best so he has to play.
Kompany will probably play when fit, and Bonucci would play always.
So if you're looking at bonucci-Stones, Stones-Kompany and Bonucci-Kompany as the first choice pairings depending on Kompanys fitness, then is there going to be enough playing time for Otamendi to be happy?
There's probably enough time for Kolarov or maybe Fernandinho to pop into the side as a rotation option if 2 of those first choice 3 are injured, but not another. Plus Pep loves Kolarov for his left footedness
I think it'll come down to numbers and who can be shifted out, but it wouldn't surprise me if Otamendi stays and Kolarov goes either if some Turkish team wants Kolarov for a couple mil.