SuperSport United recently confirmed they have parted ways with the 32-year-old winger after six years of service.
Earlier this year a source close to the player told this website that Phala will next be joining a Johannesburg-based side, with Orlando Pirates and Highlands Park leading the race for his signature.
"Oh well we've heard a lot of that. Obviously he has been released by SuperSport but we haven't spoken to anybody yet," Da Gama tells KickOff.com.
"But we're still waiting to... I'm sure the management if there's anything, they will speak to me. Well we'll have to assess the situation you know because he hasn't played for a long time. We'll have to see, we'll cross the bridge when we get to it.
"We don't know what the situation is, we don't know what his financial terms are, all those things. So if he does come up and somebody talks to us then I will discuss it with management. He is obviously a player... he started his career with Highlands Park, at Silver Stars which was part of Highlands Park. You remember it was HP Silver Stars which was Highlands Park Silver Stars.
"So he started his career here, but as I said we'll have to sit down as a technical team and with management and see what the situation is. But obviously he's got a lot of experience and he is a good player."
Brad Kaftel, who is a co-director at the club, says Da Gama will be the one who will decide if he wants the player at the Lions of the North.
"That's up to Larry [Brookstone] and Owen, I mean if they want him, but they haven't discussed it with me," Kaftel adds.
"But for me he is a good player, obviously he played his junior football at Highlands Park. He's been with Highlands under-14, 15, 16, 17... he should be coming home, I mean he is a Highlands Park graduate.
"I really don't know, it's up to the coach what he feels about him, if he feels he can still do a job for him. If the coach wants him we will do our best to get him, but we haven't engaged with Thuso Phala to be honest."