Bayern coach Louis van Gaal has told Toni to find a new club and La Nazione says a return to Florence is a real possibility.
Two doubts, however, would have to be overcome - whether Toni could play with Alberto Gilardino in the same attack and the Italy international's £5 million salary.
Meanwhile, Toni's agent, Tulio Tinti, said: "Luca was very good in Florence and will always be grateful to Fiorentina, but now the Viola club is in the past.
"I see no possibility that the player can return to Florence for a number of reasons that I prefer not explain. A loan in January? I do not know, I prefer not to increase the many controversies that already exist."