The Daily Mail says the Italy striker has been in conflict with Bayern boss Louis van Gaal after struggling to win a starting place for the Bundesliga giants this season.
A very public row with the Dutchman has put several teams across Europe on alert.
West Ham boss Gianfranco Zola would love to tempt his compatriot to Upton Park, but Toni is thought to be more keen to return to Italy, where several teams are weighing up a bid.
However, reports in Italy that Chelsea are interested could intrigue the 32-year-old. His £170,000 a week salary is prohibitive, especially to the Hammers, but Toni would accept a lower figure to get first-team football and help his chances of playing at the World Cup next summer.