The People reports that Bayern are ready to make a bid for the striker and would even offer Robert Lewandowski in exchange.
Bayern Munich boss Pep Guardiola has been tracking the Argentinian striker for years and is keen to bring him to Germany.
The German side are ready to back Guardiola with a big-money bid for Aguero.
City are reportedly looking for more than £40million if they are to consider selling Aguero.
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Chelsea have struggled to build momentum in the opening stages of the campaign and are currently looking over their shoulders at the relegation zone.
Who of Europe’s top strikers will move to England this summer?