The Mirror says Bayern see the Cameroon youngster as an ideal successor for Leon Goretzka.
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Brighton rate Baleba at £100m and it's suggested the German giants would be willing to meet such a price for the young talent.
Baleba's agents are also in contact with Manchester United, which had multiple offers for the midfielder rejected by Brighton over the summer.
United remain keen and intermediaries have let them know Baleba is keen on the move.