Schmeichel has four years left on his contract with County, but the club will allow him to leave for free this summer.
“Munich are a great team and it is an honour to be linked with them,” said Schmeichel.
“It is obviously a great honour for him to be associated with Bayern Munich, but there is nothing on it – we have nothing concrete from any clubs,” Schmeichel’s agent Mads Frederiksen told TV2 Sport.
“We are not ruling anything out, we are just working on some opportunities.”
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