The 28-year-old midfielder will have a year left on his contract with Chelsea at the end of the season.
Chelsea are yet to open talks over a new deal with his representatives and there are suggestions that they are open to offers for him in the summer.
Manchester City hold an interest in the midfielder and there are suggestions that Manchester United are also keen to sign Kovacic.
Thomas Tuchel’s arrival at Bayern Munich has led the midfielder being linked with a move to Bavaria, but according to Sky Deutschland, that will not be happening.
The current Bayern Munich coach is a fan of the Croatian but he is not a transfer target for the Bundesliga giants.
And that is unlikely to change and Bayern Munich will not be joining the race to sign the Chelsea star this summer.
The German champions have other prioritised and a move for Kovacic is not expected to take place in the coming months.
They will not be rivalling either of the Manchester clubs should they choose to try and sign the Croatian this summer.