Under Guardiola's guidance the Bavarians have become one of the best teams in the world and have dominated domestically.
Guardiola's contract, however, runs out at the end of the season and as yet he has declined to discuss his future with the club.
The Mirror is reporting Bayern officials will offer Guardiola £17million a year to keep him in Germany and to ignore the advances of Premier League teams.
Guardiola's agent Josep Maria Orobitg said: "Not even I know what Pep's intentions are. We've had some intensive talks in the past few days, but when it comes to things like this, he's very private."