Christian Falk - Bayern Insider
·19 December 2025
The Bayern Insider: Real Madrid said no to Bayern gem who’s now tearing up Champions League

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Yahoo sportsChristian Falk - Bayern Insider
·19 December 2025

Welcome to today’s exclusive & comprehensive round-up of all things Bayern Munich from Bayern insider Christian Falk. Featuring updates on Franculino Djú, Marc Guehi, Said El Mala and Michael Olise.
Bayern tried everything against Mainz. However, in the end, this squad has a big secret to its success – because it is small! Vincent Kompany has been handling it very cleverly, using the same players consistently, so everyone knows how to work together. Of course, as we approach the end of the year, you see this small squad is lacking the advantage of depth, and they’re getting tired. You saw it in the last few games, conceding first and having to fight to come back in the match.
I heard from the squad, from one player in particular, that they’re really happy about the upcoming winter break after the Heidenheim match where they can enjoy some rest. It’s a comparatively bleak situation in England, where they have to keep playing – so you see the advantage of the Bundesliga!

(Photo by Alexander Hassenstein/Getty Images)
You already have an example within the squad in Tom Bischof; he’s doing very well! He was a free agent coming from Hoffenheim. It’s hard to get playing time in this squad, but he did. I think if he gets the chance, he could be a player for Bayern’s first-XI. This is the way Bayern Munich are trying to go, but it’s not only German, it’s also German speakers.
They have one player on the list, Fisnik Asllani, again of Hoffenheim. He’s a striker, currently playing for the Kosovo national side, but he was born in Berlin and speaks German. So, FC Bayern are thinking of him. The 23-year-old has a release clause of about €30m (£26.2m), and perhaps he can be the next player in the squad with German roots. Also, it’s worth pointing out that he knows how the Bundesliga works and is a young talent.
Of course, we talk about Lennart Karl every week – and rightly so! That’s another path Bayern are exploring, developing some German players through the club’s academy.

(Photo by Alex Caparros/Getty Images)
❌ It is NOT TRUE: Bayern want to sign Marc-André ter Stegen. He’s a really good goalkeeper, but there are no meetings taking place within the club to discuss him signing for FC Bayern. There is an interesting set of circumstances at the club. As we know, Jonas Urbig is considered the backup and eventual successor to first-choice Manuel Neuer. Urbig also shares the same agent as Ter Stegen, so they don’t want to bring a rival into the club.
That all said, Ter Stegen knows he has to move if he wants to play in the World Cup for Germany. This is why there is so much speculation around his future. I think an idea like Manchester United, for example, is more plausible. Otherwise, there are many interested clubs; Besiktas would be a relatively easy move for the Barcelona star in order to get playing time, as he has no chance of playing next year for Barca; Hansi Flick is very clear on this position.
Neuer is still, firmly, the number one goalkeeper at Bayern Munich, so it wouldn’t make any sense to bring Marc-André ter Stegen in. He’s already been sitting on the bench for the German national team behind Manuel Neuer, and he won’t do it at Bayern!
What we’ve since heard is that Neuer is still thinking about his future in Munich, and it’s 50-50 at the minute in terms of whether he’ll extend his contract or not. I heard from Bayern Munich that they’re planning the next round of contract talks after the shotstopper’s birthday in March. So, you see, it will be a late decision for Manuel Neuer.
There’s still yet no agreement between Marc Guehi and Liverpool. So, many clubs are making contact. Bayern, for instance, had contact in the past, and there’s an agent in Germany who has the German rights on him (the agency is in England). However, Bayern Munich are still waiting on Dayot Upamecano’s situation to be resolved.
Ultimately, they won’t sign Guehi if the French international extends his contract at the Allianz Arena. It’s a similar situation with Nico Schlotterbeck, who’s also waiting for a sign from the Bundesliga champions. Bayern also made contact there, but they won’t have need for a defender like Schlotterbeck or Guehi if they keep Upamecano.
Internally, FC Bayern are talking this up as the “king transfer” if they manage to get Upamecano to sign a new contract.
❌ It is NOT TRUE: Bayern are taking interest from Chelsea and Man City in Dayot Upamecano seriously. The main competition is between Bayern, Real Madrid and PSG. However, there are many signs that Bayern Munich will get a new contract for Upamecano over the line. One interesting thing to note is that the Frenchman was recently photographed moving house in Munich – I think, if you’re doing this, you’re probably not thinking you’ll have to do it all again to a completely new city in the summer. Of course, they have the money to make as many moves as they please! Still, Upamecano is feeling settled in Munich – and it shows, given he’s prepared to move to a new place in Munich.
Now, the problem in the negotiations, we’ve heard, revolves around a potential release clause in the contract (which Upamecano’s side is pushing for). This is no problem for Bayern, as his last contract already contained a release clause of about €120m (£105.6m). The amount isn’t the big problem; the main issue is that Upamecano’s entourage wants a release clause that can be triggered in the first year of the new contract. Bayern said this didn’t make any sense, but perhaps the release clause could be activated in the second year. This was the case with Jamal Musiala. Otherwise, all parties are clear on the salary and signing fee, and the Bayern bosses are very confident they’ll get Dayot Upamecano on a new contract.

(Photo by Carl Recine/Getty Images)
❌ It is NOT TRUE: Bayern could look to sign Kobbie Mainoo. It’s not true at the moment. Bayern know the player is an interesting option, but he’s not currently being seen as a Bayern Munich player. That’s down to a handful of reasons, like salary and the potential fee. The club is searching for a potential successor to Leon Goretzka, of course, but there is more of an idea to give opportunities to players like Tom Bischof who are already present in the squad. He can play the position, but Bayern are ultimately searching for players who can be the future of the position. That’s because they’ve already got players like Joshua Kimmich, Aleksandar Pavlović, and Konrad Laimer who can fit the role. They don’t need Mainoo at the moment, and he’d be unlikely to get playing time in Munich. So it’s not a transfer that would make sense for both clubs.
Bayern Munich aren’t, as things currently stand, planning with Leon Goretzka for the 2026/27 season. He’s got a very high salary, and they want to mix things up a bit with the squad. There were rumours aplenty flying about this week as Goretzka was spotted deleting photos associated with Bayern Munich from his Instagram account. So, everybody was wondering if something had happened, but in the end, he’s just not a big fan of social media. So, it’s not the reason why he took such drastic action on his socials.
He’s not playing so well this season – as Serge Gnabry, for instance – to justify a new contract. Goretzka has a market too; he’s very highly-rated in Istanbul. Galatasaray wants him, Fenerbahçe wants him. Those aren’t his first-choice clubs. But then there are also Italian clubs following him; there’s Juventus and Napoli, who are both interested in him. So, he has big chances. If you’re a free agent like Leon, you can get a salary like his Bayern salary. He’ll also have about €17m (£14.9m) gross because he’ll also get a signing fee – Bayern Munich won’t pay that again. I think both sides will shake hands and say goodbye in the summer.

(Photo by Alexander Hassenstein/Getty Images)
Vincent Kompany deserves a big compliment for getting Serge Gnabry back to his best again. He was good in the past, then he had a little break, and now he’s offering his best performances in years – perhaps also because it is the last year of his contract! What I can say is the 30-year-old is feeling very well in Munich. We heard about a meeting two weeks ago with his agents at ROOF. There’s already a “yes” in place; they’re fine with a two-year contract, a new contract for Serge Gnabry. He won’t be on the money he was before (about €17m-18m), now €15m-15.5m gross would be enough. So, Bayern Munich would get a lower salary than before for Serge Gnabry and a short-term contract with performance-related clauses.
It’s a similar situation to what we had last year with Leroy Sané’s negotiations, and then he turned around at the last minute and said, “No, I don’t want a lower salary”. I think Serge Gnabry is fine with this, and I’m very positive that he’ll sign in the near future until 2028.
✅ It is TRUE: Bayern Munich are taking a closer look at Franculino Djú. Last summer, they really tried to get him, but they were only allowed to make loan signings. FC Midtjylland said no this, and made it clear that if they were to lose the striker they only wanted to sell him. So, there was no deal! This coming summer, Bayern Munich could make this deal happen, as he’s not so expensive – we would think €25m-€30m perhaps. He’s 21 years of age, so he’s very much one for the future.
Djú is a very interesting player. Christoph Freund, Bayern’s sporting director, directly contacted both sides. There has been confirmation from the club’s sporting director, Jacob Larsen, that Bayern knocked on the door.
But the interesting thing for England is that FC Bayern aren’t the only club at the table! Premier League champions Liverpool are also very interested in him. So perhaps we might get an exciting poker game between Arne Slot’s side and Bayern Munich. Also, Borussia Dortmund is said to be interested in this player. So this will be an intriguing transfer topic for us next year.
✅ It is TRUE: Michael Olise is on the list of multiple European sides. Beyond Real Madrid we can also add Manchester City. Pep Guardiola, as we know, would be very happy to get this deal done. However, Bayern Munich are a buyer’s club, not a seller’s club. So, if they don’t want to sell – they won’t sell. And Olise is most certainly one talent they don’t want to sell. This season in particular has shown that both Harry Kane and Michael Olise are indispensable to the squad.
He’s already got a long-term contract at the Allianz Arena, and don’t forget that Bayern Munich are already working hard on giving him more money with an updated contract (including one year more). So, at the moment, this means no chance for Real Madrid, Liverpool, Manchester City, Chelsea, and we can add many more to this list.

(Photo by Alexander Hassenstein/Getty Images)
✅ It is TRUE: There was a chance for Real Madrid to sign Lennart Karl in the past. As his father mentioned, this was indeed the case. Of course, it’s always hard with young players. He’s only 17 even now, and you have many young players. The Madrid scouts did, at the time, have a look at Karl, but in the end they said, “No, he’s not good enough.” What a pity for Real Madrid!
But of course, this was a time before his new agent, Michael Ballack, came into the picture. Ballack has a really, really clear plan with Lennart. He has a three-year contract he signed in August with Bayern Munich, and there’s already a clause in this to extend on the 23rd February (on his birthday), which will activate a professional contract with an extra year on top. So Bayern are very much planning with Lennart Karl for the future.
Real Madrid can watch him from afar at Bayern Munich!
Harry Kane is at his absolute peak at Bayern Munich. He’s something not even Tottenham or the English national side have seen; he’s making everything happen on the pitch for Vincent Kompany. He’s allowed to drop back and be the number 10, even when he’s the striker. The Bayern system Kompany has implemented works on the concept of letting Harry Kane play like Harry Kane. It’s hard to find a successor for him, as he’s always playing – he’s never injured!
This is why the club plans to get a talent like Fisnik Asllani or Franculino Djú for when you want to play Kane like a number 10, or if you leave him out of the team when he needs a rest. This is bad news for Nicolas Jackson of course! He has a clause in his contract allowing Bayern to buy him for €65m (£57m). Bayern Munich is not, at the moment, prepared to spend this money on him. He’s not had the impact on the team that they’d hoped for, but he still has time. At Bayern, they say if he scores important goals in the Champions League in the knockout round, then the €16.5m (£14.4m) loan fee is okay. But they’re not yet at the point of being prepared to buy him.

(Photo by Lars Baron/Getty Images)
✅ It is TRUE: There is plenty of competition for Said El Mala. This is especially the case for Tottenham and Manchester United – both made contact with El Mala’s club, FC Köln. They said they want the player and would like to have him immediately. But both the club and El Mala said no to a winter move. However, we heard that the clubs wanted to pay €40m (£35m), but this won’t be enough for Köln.
Yes, he can make the next step in the summer, but the fee will be €60m (£52.6m) or more. We heard that if Bayern Munich are as concrete as Tottenham and Man United are at the moment, there will still be a chance for Bayern. At the moment, however, they don’t want to make a concrete offer. They’ve asked for a matching right in the event an acceptable bid is prepared.
From El Mala’s side, it sounds like the Premier League is in his mind. Perhaps this is the current plan he’s made with his agents, which is what we’ve heard. So, perhaps we’ll see him in the Premier League this summer.
✅ It is TRUE: Bayern Munich aren’t prepared to dip into the January transfer window as things currently stand. Not good news for Bayern fans! They love to have new stars in the team. But Bayern Munich point to the fact that Jamal Musiala is back on the training pitch again and Alphonso Davies made his first minutes back. So you have really, really, good players coming back into the squad. They won’t buy, but perhaps they might sell. There are still talks about Sacha Boey and Crystal Palace, so perhaps this could happen. But then there were already talks about whether they would sell Rafa Guerreiro. Benfica and Juventus were interested. Nonetheless, they say the squad isn’t so big, so they can’t sell so many players. Perhaps just Boey, but then that’s it for this winter.









































