Carlo Ancelotti will seek a return to the Premier League next season if Bayern Munich trigger a break clause in his three-year contract as manager.
Ancelotti replaced Pep Guardiola at Bayern in 2016.
Reports have linked Julian Nagelmann, the highly rated 30-year-old coach of Hoffenheim, with the Bayern job and he added to speculation by claiming at the weekend that "Bayern has always played a prominent role in my dreams."
Manchester United and Liverpool have been linked to Ancelotti in the past but their managerial situations appear solid.
Arsene Wenger signed a two-year deal with Arsenal in May but his future remains uncertain.