Nkunku has played an important role for the Blues this campaign, contributing 13 goals in all competitions, but his game time has largely come in cup competitions.
With just 390 minutes of Premier League football under his belt, the France international has been heavily linked with a transfer away from Stamford Bridge.
On Monday evening, reports emerged that Bayern were interested in handing the versatile attacker a second stint in the Bundesliga on the back of his previous success with RB Leipzig.
According to transfer expert Fabrizio Romano, who was commenting on X, Chelsea officials have decided how much Bayern will need to pay to get a deal over the line.
Nkunku asking price set
Romano says that Chelsea will demand a €70m (£58.98m) package for the 27-year-old, an increase on the £52m that they shelled out in 2023.
With Nkunku said to be eager to secure a switch to the Allianz Arena, Chelsea seemingly hope that it will tempt Bayern into meeting their valuation.
Nkunku's current record in Germany's top flight reads 47 goals and 43 assists from just 119 outings, yet it is unclear whether he would earn regular starts in a free-scoring Bayern side.
The current situation with Nkunku's future may become clearer when Enzo Maresca names his squad for Tuesday's Premier League fixture against Bournemouth.
Where does Tel fit into the mix?
On the same evening that Nkunku was linked with Bayern, their young attacker Mathys Tel was associated with a potential switch in the opposite direction.
With the prospect struggling for game time under Vincent Kompany, it is plausible that a scenario could materialise where Tel acts as a direct replacement for Nkunku.
On Tuesday, Bayern director Christoph Freund indicated that their current priority is to retain the services of the 19-year-old, providing that he remains happy at the club.
From a financial standpoint, though, Bayern may be more likely to include Tel in any proposal than commit to paying a direct £59m fee at the midway point of the season.
Although Chelsea may be prepared to accept a loan with obligation to buy with some of their fringe players, they are likely to take a stronger stance with Nkunku.
Written by
Darren Plant