"Once again, we're ready to bring in a high quality player," Bayern Munich sporting director Uli Hoeness told Bild on Monday.
The Bavarian side spent $70 million euros last summer to bring Luca Toni, Frank Ribery and Miroslav Klose to the Allianz Arena.
But Hoeness hinted that they may not have to splash their cash as they are targeting the unsettled Barcelona midfielder who will be out of contract next summer.
Barcelona sporting director Txiki Begiristain has shouldered the blame on the Portuguese international for lack of action as he only participated in 20 of a total of 60 training sessions.
Marca have revealed that the Catalan giants are willing to offload the 30-year old midfielder.
Bayern have also been linked with Arsenal's duo Alexander Hleb and Mattieu Flamini and AC Milan's Gennaro Gattuso.
The Bundesliga giants are strong on the flanks but are willing to seek more talent in central midfield especially with Brazilian Ze Roberto moving away.
Former Germany coach Jurgen Klinsmann will take over from Ottmar Hitzfeld who has been appointed as Switzerland manager.