The Frenchman has been linked with a move away from the German club owing to contractual differences.
Chelsea are now looking to bring him to Stamford Bridge, and they are prepared to offer Callum Hudson-Odoi in exchange along with some cash.
Coman has been outstanding for the German club over the past year, and he could prove to be a quality addition to the Chelsea attack.
The Frenchman has world-class potential and has been a member of the star-studded French National team. Coman scored the only goal in UEFA Champions League final for Bayern Munich against his former side Paris Saint-Germain in 2020.
The player is currently nearing the end of his contract at Bayern Munich, and the German club could be under pressure to cash in on him if he continues to resist a contract extension.
The 25-year-old is demanding a salary of around €18 million per year but the club are prepared to offer him €13 million.
It will be interesting to see if the two parties can secure an agreement in the coming weeks.
Chelsea could use more quality in the wide areas, and the Frenchman could make an immediate impact.
He has established himself as a key player for club and country, and he could prove to be a quality long term acquisition for the Premier League side.
For Callum Hudson-Odoi, Bayern Munich have previously pursued the English international during the January transfer window. It will be interesting to see if they are willing to allow Coman to leave Munich.