Pep Guardiola has his eye on the Serbian, but is well aware that Jose Mourinho will not sell a key player to him. Lest we forget, the two managers shared a great rivalry when they managed Barcelona and Real Madrid respectively.
But the Bundesliga juggernauts are hopeful that Ivanovic will refuse to sign a new contract at Stamford Bridge, which will allow him to enter pre-contract talks next January.
Ivanovic's current contract ends next season and he is yet to open talks with Chelsea officials. As 31-years-old and after seven-years in west London, Bayern Munich will hope to tempt him with a fresh and final challenge before he retires.
The right-back has been a key part in Chelsea's Premier League title challenge this season. He has started all 32 games and has never been substituted by Mourinho.
Only Eden Hazard can boast the same record as Ivanovic and he is regularly labelled as the best player in the Premier League. Surely Mourinho sees Ivanovic as an equally important part of his team.
As he is now on the wrong side of 30 though, it is possible that Mourinho is starting to think about a possible long-term replacement.
Ready to be replaced?
Cesar Azpilicueta can play at right-back as can Kurt Zouma, but Nathaniel Clyne of Southampton seems to have landed himself on Chelsea's summer transfer wish list.
The arrival of Clyne will surely see Ivanovic's role in the first-team demoted. That could be enough to convince Ivanovic to leave and Bayern will be ready to take advantage.
Should he leave?
If Clyne arrives in the summer, Ivanovic can expect to play a bit-part role for Chelsea for the rest of his days. However, the Blues are looking set for a long period of dominance and could claim to have just as good a chance of winning the Champions League as Bayern Munich.
But Ivanovic must be tempted by the prospect of playing in a different league and challenging for different titles. It would make his trophy cabinet all the more complete when he retires and would be an excellent way to cap his career.
He has given everything to Chelsea and owes them very little. If he wants to leave, fans of the Blues should not begrudge him the opportunity.
Should Branislav Ivanovic leave Chelsea for a fresh challenge?
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