The 21-year-old Germany international has established himself as one of the brightest young talents in Europe over the last four years as a first-team player for Bayern.
Musiala has already made a total of 167 senior appearances for the German giants across all competitions, scoring 45 goals and registering 32 assists, including two goals scored in Bayern's opening three Bundesliga matches this season.
The versatile attacker was previously a standout performer for Germany at Euro 2024 and ended the tournament as one of six players to win the Golden Boot award after scoring three goals.
Musiala is regarded as a key member of Vincent Kompany's Bayern squad, but speculation over his long-term future continues to swirl, even after the summer transfer window has closed.
In-demand Musiala facing uncertain future at Bayern
Musiala has less than two years remaining on his contract at the Allianz Arena and has attracted interest from a host of top European teams including Man City, Real Madrid, Liverpool and Barcelona.
Journalist Fabrizio Romano recently reported that Bayern view the extension of Musiala's contract as "absolutely crucial", but if he failed to agree fresh terms, 'all the top clubs will be there' to battle for his signature.
Bayern president Herbert Hainer recently insisted that the club will "try everything" to keep Musiala for "as long as possible" and hope that he can emulate club legend Thomas Muller by staying at the club "for the next 20 years".
However, Bayern's hopes of achieving that appear to have suffered a blow, as a recent report claims that Musiala has turned down the club's latest contract offer, raising doubts about his future in Bavaria.
Musiala contract "difficult, but not impossible"
Last week, Bayern director of sport Max Eberl expressed his confidence that Musiala would commit his future to the club, saying: "We are always in contact, further discussions will follow.
"He should become a face of FC Bayern in the future. His journey at FC Bayern is far from over. He wants to win titles, and that is exactly what we want too."
However, Eberl has since conceded that negotiations have not run smoothly, telling Sport1: "It's difficult, but not impossible as Jamal knows what he has at Bayern Munich.
"He grew up here and has brought himself to this level. Talks are intensifying. We are extremely ambitious and he knows that he wants to win titles."
Musiala, who is believed to be valued by Bayern at around £120m, is expected to play in the club's first Champions League fixture of the new season at home to Dinamo Zagreb on Tuesday night.