Bayern Munich’s 2025/26 campaign is off to a roaring start, but it’s not just the action on the pitch that’s catching everyone’s attention. Behind the scenes, the Bavarian giants are navigating a high-stakes transfer chess game, juggling contract talks, potential departures, and ambitious pursuits of new talent—all while maintaining a perfect record under new manager Vincent Kompany.
Let’s start with the facts: as of October 10, 2025, Bayern Munich have won all 10 of their competitive matches this season. Manager Vincent Kompany, only recently at the helm, has injected the team with an aggressive, attacking philosophy that’s paid immediate dividends. The attacking quartet of Harry Kane, Michel Olise, Luis Diaz, and Serge Gnabry has been lighting up the Bundesliga, with Gnabry in particular turning heads for his adaptability and form.
Serge Gnabry, now 30, has been thrust into a makeshift number 10 role due to Jamal Musiala’s injury—a spot not typically his own. Yet, he’s silenced doubters with eight goal contributions in 10 games, including three goals and three assists in just five Bundesliga starts. His performances haven’t gone unnoticed, either. According to reports, “his teammates, Kompany, the coaches and even members of the hierarchy are extremely impressed with Gnabry's stellar performances this season.”
But here’s where things get interesting. Gnabry’s contract expires in the summer of 2026, and he’ll be open to talks with other clubs starting in January. While he’s made it clear that he’s focused on his current form and the national team—“Nothing has changed about what I said last time. Right now, I'm focused on the national team. I'm not thinking about my future right now. At the end of the day, it's up to the club to approach me. Whether that will happen or not, we'll see. I'm just focused on playing well. And then what will happen will happen,” he told reporters ahead of Germany’s World Cup qualifier against Luxembourg—the club is reportedly taking a cautious approach. The Bayern hierarchy is keen to see if Gnabry can maintain this level of consistency before offering him a new deal, and any extension would likely come with reduced terms as part of a broader effort to lower the wage bill. Gnabry, for his part, is said to be content in Munich and willing to accept a pay cut to stay with the Bundesliga champions.
Meanwhile, Bayern’s transfer radar is buzzing. Defensive stability is a top priority, especially with Dayot Upamecano currently negotiating his bonus and the possibility of his departure looming. Should Upamecano leave, Bayern are determined not to be caught short-handed. That’s why they’ve zeroed in on Crystal Palace’s Marc Guéhi as their next center-back option. Guéhi’s contract with Palace expires in January 2026, and he’ll be able to negotiate with other clubs at that point. Bayern are not alone in their pursuit—Liverpool and Barcelona are also in the mix, making the race for Guéhi’s signature one of the winter window’s most intriguing storylines. Outbidding such heavyweights won’t be easy, and Bayern’s ability to compete could hinge on how much of their budget is tied up in the Upamecano situation.
But wait—there’s more. Bayern’s interest in defensive reinforcements doesn’t stop with Guéhi. According to Sport Bild, the club also has its sights set on Nottingham Forest’s Murillo, a 23-year-old center back valued at a hefty €55 million. However, bringing in Murillo would require Bayern to offload players first, adding another layer of complexity to an already tangled transfer web. Real Madrid previously tried to sign Murillo when Éder Militão was injured, and Chelsea are also monitoring the Brazilian, whose contract runs until 2029 with no release clause.
On the subject of Real Madrid, the Spanish giants are reportedly eyeing a slew of center-back options for the summer of 2026, including Liverpool’s Ibrahima Konaté, Bayern’s own Upamecano, and Crystal Palace’s Guéhi. With Antonio Rüdiger and David Alaba’s contracts expiring at the end of the 2025-26 season, Madrid could be in the market for a free agent. There’s also talk of promoting 18-year-old Joan Martínez from Castilla, who’s been highly rated within the club but had his progress stalled by an ACL injury. Whether Madrid move for an external signing or trust their youth setup remains to be seen, but it’s clear the dominoes in the center-back market could start falling fast come summer.
And the transfer intrigue doesn’t end there. Bayern are also keeping a watchful eye on FC Köln’s Said El Mala, a promising youngster who’s made waves in his Bundesliga debut campaign. El Mala, a Germany U19 international, is seen as a player in the Gnabry mold and could be targeted as a long-term replacement should Gnabry depart next summer. The club’s willingness to refresh the roster with young talent is evident, but any move for El Mala would likely depend on Gnabry’s contract situation and continued form.
In the goalkeeping department, Bayern have planned contract renewal talks for Manuel Neuer in December 2025. If Neuer stays, Alexander Nubel—currently on loan at VfB Stuttgart—could be allowed to leave permanently. At the same time, Bayern are in the thick of a continental tussle for AC Milan’s Mike Maignan, whose contract expires in summer 2026. Juventus and Chelsea are also vying for the France No. 1, who is expected to be one of the world’s most sought-after free agents after the 2026 World Cup.
Elsewhere in Europe, Juventus, AC Milan, and Manchester United are all interested in Newcastle United’s Sandro Tonali, while Juventus are considering a move for AC Milan goalkeeper Maignan, potentially opening up a spot for Michele Di Gregorio to move to the Premier League. It’s a merry-go-round of talent, and Bayern are right in the thick of it.
So, what’s next for Bayern Munich? The club’s perfect start under Kompany has set the bar high, but the real test may come off the pitch as they juggle contract renewals, player departures, and big-money signings. Fans will be watching closely as the January transfer window approaches—will Bayern splash out for Guéhi, move for Murillo, lock down Gnabry, or make a play for Maignan? One thing’s for sure: the coming months promise plenty of drama, both on and off the field.
