The Croatian star looks set to move on this summer, with the Bundesliga champions having already sealed a deal to land Robert Lewandowski from bitter rivals Borussia Dortmund on a free transfer.
Mandzukic has spearheaded Bayern’s attack during the club’s rise to become, arguably, Europe’s top force, and is believed to be far from keen to play second fiddle over the course of the coming years.
This has alerted a host of top sides, and Chelsea are the latest to have been aligned with the 27-year-old.
It is understood that Chelsea chiefs met with Mandzukic’s agent recently to discuss a possible £20m switch during the off-season.
The London club are known to be in the market for an established front-man, with Jose Mourinho having been critical of his current options on numerous occasions.
Bayern have suggested publicly that they are keen to keep their man, but it remains unclear as to whether or not the player will push for a switch.