The Bundesliga giants were linked with a move for the 31-year-old in the summer and are now mulling over whether a bid when the transfer window re-opens.
Malouda’s future at Stamford Bridge has come into question over the last few weeks after the arrival of Juan Mata from Valencia with the Spaniard preferred in the line up by Andre Villas-Boas.
Mata’s early form in West London has been a shining light so far this season and could prove to be the death knell for the French midfielder.
The Portuguese coach stated he was looking to freshen up his squad with some younger faces and with Malouda now peering over the wrong side of 30 he could be sacrificed.
A move to the Allianz Arena could now be in the pipeline although they could face a fight from Italian sides Juventus and AC Milan who have also been credited with holding strong interest in the Frenchman.
The Germans are desperate to capture their man and will be confident of beating both Serie A sides to Malouda’s signature who has been a consistent performer for Chelsea over the last three seasons.