The Sweden captain is a free agent after coming off contract at Manchester United this summer.
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Ten Hag worked with Lindelof for over two seasons as United manager and sees him as an ideal replacement for Jonathan Tah after his departure for Bayern Munich.
Sky Deutschland says Bayer are now making a move for Lindelof.
The 31 year-old has been linked with a move to Italy, though the chance to play again for Ten Hag is appealing to the defender.