The Bayern Insider: Liverpool looking at Finn Jeltsch amid Michael Olise talks

Welcome to today’s exclusive & comprehensive round-up of all things Bayern Munich from Bayern insider Christian Falk. Featuring updates on Michael Olise, Finn Jeltsch, Martin Zubimendi, and Wael Mohya.

Have Bayern changed their stance on the January transfer window?

What’s the latest on Bayern Munich target Oskar Pietuszewski?

Has another Arsenal player caught FC Bayern’s eye?

And plenty more on Lennart Karl, Jamal Musiala, Dayot Upamecano & Uli Hoeneß

This is what we call the “Bayern family”. You can see things are difficult; there are some struggles internally, but then they just stick together! That’s the main thing about the club, and that’s why I have a very good feeling about what Bayern can achieve this season. Remember when FC Bayern lost to Chelsea in the Champions League final – a year later, they rallied and won it at Wembley! Sometimes, great success can stem from great heartbreak. If you go back even further to the Champions League in 2001, you have to remember that two years prior they were unlucky to lose to Manchester United in the final in the final few minutes. Two years later, they were back again! This is Bayern Munich. I have a fresh feeling that this could be a very special year.

Lennart Karl is a very special person at 18 years of age. As journalists, we often say everything is really quiet and really boring when it comes to interviewing players these days because everyone is so media-trained and giving the same answers. Lennart Karl is not like that, and he doesn’t play like that either. He also doesn’t wear clothes like that! He was at the Ballon d’Or ceremony, having finished three places below Lamine Yamal in the Kopa Trophy (best young player). He has a big future in the sport, which other clubs are no doubt aware of, and certainly Bayern are wary of the wandering gaze from their European rivals.

I heard there was an internal meeting where Bayern talked with the Lennart Karl side. They told him that he’s a very important player for Bayern Munich and that they’re very happy with his development. But they weren’t so happy that they were prepared to talk about a new contract! He’s still earning a salary of about €2.5m gross [£2.08m]. So, you see, there’s a lot of space there to work with in future. Everyone is now waiting for a decision from Michael Olise. When this decision is made, everyone will be able to see things more clearly around Lennart Karl and his future at Bayern Munich.

It’s something of a “semi-true” claim that Michael Olise’s camp is in talks with the club. To be clear: they’re not in contract negotiations at the moment. Bayern Munich let him know that they want to have a decision by next summer, so you see how much time there is until this decision is made. On the one hand, they know he has a long-term contract still (with three years left) and he’s not one of the top earners, so you can always ask him to sign a contract extension for another two years and then they’ll bump up his salary. But of course, it’s important to give the player a sign to say, “Hey, we’re really confident with you! We want you to stay for as long as we can possibly have you at Bayern Munich.”

→ Become a Bayern Insider: Martin Odegaard rumour as Eberl dreams of Antonio Nusa

FC Bayern doesn’t tend to get everything done at once. First on the agenda was the contract extension for Ballon d’Or winner Harry Kane, and now the next step can be to talk with the next superstar for the future — this is Michael Olise. But no, it’s too early to say whether there’s any decision or any sign as to what the France international will do next.

✅ It is TRUE: Dayot Upamecano has a release clause in his contract. He also had one in the old contract before, which was really, really high – about double the amount of what he’s got now. It’s speculated to sit at about €65m [£54.3m], which isn’t a particularly high fee for a player of this quality. But this was a key point in negotiations when he had to sign a new contract, and he wanted to sign a new contract. The Frenchman made a call to his agent when there was some trouble between the club and the agent, as there was a lot of debate going on around the potential signing fee on the table. There was no question about the release clause; this was okay, Bayern just didn’t want it to be available immediately. I do have to emphasise: Upamecano wanted to stay. There was a time when there was some concern he would leave, but the centre-back made a call, as did the club, they talked directly and Dayot Upamecano made it clear that this was his club and he had not interest in leaving. Don’t forget, he’s got a big connection with head coach Vincent Kompany. So yes, while there is a release clause, I don’t see it being triggered in the near future.

This is a really, really difficult topic; it’s always difficult when you talk about someone’s health. He’s not been fortunate of late. There was the big, big injury during the Club World Cup in the States back in 2025 following a collision with Gianluigi Donnarumma. He missed so many games from this. Then there came the health issue, which Bayern had yet to encounter. He has his breakdowns from his treatable neurological dysfunction. I heard that, since taking his medication, he’s had no further breakdowns, so he’s feeling well! Then again, an injury happened: a hamstring injury.

So, Uli Hoeneß decided to open up the topic of Musiala’s salary, pointing to the fact that the German international is one of the best earners at the club, and they’re not sure if he’ll ever be back to his best again, back when he first signed the deal, due to his health concerns. This is a really difficult topic. Not everyone is fine with the fact that Hoeneß raised the topic – and believe me, the Musiala side is not fine with it either! Also, Vincent Kompany said that before the injury, he saw the best Jamal Musiala in training since he joined the club from Burnley. So, no one can say if the medicine will have any impact on his performance levels on the pitch. At the moment, he’s on the road to recovery. He’s got a break away from Jürgen Klopp’s Germany side, so he can enjoy more sessions in Munich.

He is one of the top earners at FC Bayern. Harry Kane obviously leapfrogged him with his new contract. It’s a lot of money in Germany. Everyone is aware of this and is aware of the fact that performances have to match the salary. But it’s still a difficult thing to talk about. Both sides agreed to the contract at the time. Uli Hoeneß had the idea that if one can’t perform like they used to, perhaps there should be a sign made to the club from the player that they could give up some portion of their salary. No one has ever done this before and I don’t think it will happen. Ultimately, I don’t think any of this helps Jamal Musiala while he’s recovering.

But you have to remember that it’s not coming from a bad place with Uli Hoeneß. For the Bayern chief, the club is the most important thing. Therefore, he’s playing the bad guy. He knows not everyone will be keen to cheer on his suggestions, but he wants the best for FC Bayern. He’s the godfather of Bayern Munich, and perhaps the only person who’s allowed to raise a point like this.

Bayern Munich aren’t looking at Wael Mohya because of potential concerns around Jamal Musiala’s health. It was our exclusive that FC Bayern are interested in the Gladbach player. Yes, FC Bayern are always interested in young German players when they’re playing very well. That’s the way it is. I think it’s currently too early to say he’s a bolt-on transfer in the next summer window. However, Bayern are still searching for a player for the offence who can develop and be educated in Munich. No next superstar, no next Luis Diaz, no next Michael Olise. A player who is young and who needs playing time but not so much as to be a nailed-on starter in the first XI. This can be the Musiala position, of course, but Mohya can also cover other positions in the offence. It’s normal that Bayern Munich are interested in such a player, especially with Jürgen Klopp having called him up to the national side. You can see so much potential. He doesn’t quite have the body yet to be considered a “Bayern player”. But he’s interesting, so he’s also interesting for Bayern Munich.

✅ It is TRUE: Oskar Pietuszewski has a roughly €60m [£50.1m] release clause in his contract at FC Porto. We know, of course, that Bayern were considering paying €70m [£58.4m] for Liverpool’s Rio Ngumoha last summer. He will be a topic next summer as well. So, you see the range Bayern are looking at for a talented young player. But one player is not enough on such a list, as no club in world football can sign every single top target – Bayern aren’t immune to that reality! As we can see with JJ Gabriel…

With both Ngumoha and Pietuszewski, they can both play the left wing position (and across both flanks). Bayern have a clear plan to address the position, and that involves getting one such player next summer who can share minutes behind Luis Diaz. I listened to Farrell Keeling’s interview with our Portuguese colleague Miguel Lourenço Pereira and my interest was piqued by comparisons to the Colombian international. The parallels are there; Diaz also played for FC Porto before making his move to Liverpool and then, of course, FC Bayern. Very interesting!

❌ It is NOT TRUE: Bayern Munich are interested in Martin Zubimendi and considering a January move. Bayern will not go for the Spaniard in the winter. What I can say is that he was on the list of Bayern Munich in the past before he got his move to the Premier League. Bayern Munich were scouting him and there were talks, but in the end, it wasn’t a match! Now, I don’t think it’s the right time to go for him. There just isn’t the space in the midfield department. He will also be very expensive, and FC Bayern are searching in other positions. Bayern admire Zubimendi but they won’t go for him in the January transfer window.

✅ It is TRUE: Liverpool have scouted VfB Stuttgart centre-back Finn Jeltsch. All the top clubs, including Bayern Munich, are scouting him. He was in the squad for Klopp first as a backup for the right-back. Then one of the central defenders became injured, and now he’s also the backup at centre-back. This shows he can play many positions, and everyone can see the 20-year-old’s potential. Such players really are a present to everyone. Jeltsch is young, talented and can play many positions, and he’s not so expensive! Bayern Munich has an eye on him. Last week, we mentioned that Tomás Araújo is on the list, and so is Jeltsch. He’s also on the list for many clubs in the Premier League. I don’t think England will be his next step. Finn Jeltsch is young and knows he can take things step-by-step. That won’t stop the scouts from coming to the stadium (including scouts from Liverpool) as they did recently.

I can just tell you what I heard from the Bayern Munich side: no one has contacted the club to discuss the possibility of Aaron Danks joining the backroom staff at Manchester United. He’s done a great job during Vincent Kompany’s absence. Bayern are very happy to have Danks here, and the truth is that we need him at the moment, as Kompany isn’t fully back at the club. What I can say about the Belgian head coach is that he was back at Säbener Straße (with a shoulder injury), so his comeback is coming closer. If there were a clear plan for Manchester United to go for Danks, no one would stand in his way, as it’s a big opportunity. But up to now, nobody has heard about any kind of serious push from the Red Devils.