Van Gaal, whose contract runs until next summer, led AZ to their second Eredivisie title this year and has been repeatedly linked with a switch to the Allianz Arena.

Scheringa told Noordhollands Dagblad: "We will go into the Champions League with him. No amount of compensation could make up for losing him."

The talk in Germany is of a gentlemen's agreement between Van Gaal and AZ, allowing the former Holland coach to leave.

Bayern general manager Uli Hoeness said: "I have no idea what the agreement means, only that it exists and that Van Gaal wants to use it.

"We got the assurance from him that AZ will not ask for a transfer fee."

However, AZ director of football Marcel Brands said: "The only restriction was that he could leave us if Germany, England, Spain, Argentina or Holland wanted him as their national team coach.

"But that doesn't count anymore - the term for that ended on January 1, 2009."

Brands added that he was surprised Bayern had not yet made contact with the club.

"I compare it to a player that I really want to sign," he said. "I grab the phone immediately, not wait for weeks."

Bayern sacked Jurgen Klinsmann last month, since when Jupp Heynckes has been in temporary charge.