And it seems Bayern wish to wait for their preferred choice and will utilise their longstanding relationship with Heynckes to their advantage.
That's according to German outlet Bild - who were first to break the news.
Subsequently, he was appointed as Algeria's head coach, but failed to end their long wait for Africa Cup of Nations success with a quarter-final exit in the 2015 competition. At 65, Ranieri is unlikely to ever scale such heights again in his career. Bayern president Uli Hoeness' admiration for Nagelsmann is an open secret in Munich. He led Rennes to a ninth-place finish in Ligue 1 last season, but has won just one of the opening eight matches of the current campaign.
Half of the team was part of the 2013 treble-winning squad.
Heynckes has the experience and man-management to get Bayern back on track at home and abroad.
Raphael Honigstein responds to reports indicating that Jupp Heynckes is set to take over Bayern Munich until the end of the season.
It would be a stunning turn of events, and although the personnel has changed since Heynckes' last spell there's no doubt he'd look to install his 2012/13 blueprint. It was a decision that has proved dividends in recent years, with Boateng developing into arguably the most complete central defender in world football and a real leader in the Bayern side.
"From the beginning, he gave me a lot of confidence, and in his two years [with Real Madrid] he's played me in almost every game, especially in the big games". In 2009 he returned after former coach Juergen Klinsmann got the sack.
Raphael Honigstein gives his take on Jupp Heynckes back at Bayern Munich.
The results might as well indicate if Heynckes is the right therapist.
"Nothing is cut and dried yet", Heynckes said.