"Basically, both sides are interested," Hoeness said in a speech in town of Osnabruck. "I think in the next few days there will be something good coming out. The board will approve it."
Heynckes, who opted this week not to extend his contract with Bayer Leverkusen beyond this season, said on Monday he had been offered the chance to take over from Louis van Gaal, who will be leaving Bayern a year before his contract expires.
But the 65-year-old Heynckes, who has coached Bayern twice before and is a close friend of Hoeness, said there had been no discussions yet.
Earlier this month, last season's Champions League finalists and Van Gaal agreed to part ways after failing to defend the domestic double they won in the Dutchman's first season and crashing out of the top European competition in the round of 16.
Hoeness, who clashed with Van Gaal months ago calling him a one-man-show who refused to listen to advice, said it was a good decision to sign him last year to put the team back on track after Jurgen Klinsmann's short and unsuccessful stint.
"It was totally right to bring in a football teacher with Van Gaal. Hiring Klinsmann was a huge mistake," he said of Bayern's decision to bring in Klinsmann in 2008 after he led Germany to a third-place finish at the 2006 World Cup.
"Everyone was crazy after the summer fairytale and no one realised that already then (current Germany coach) Joachim Low was doing all the work."
Bayern are out of all competitions and are fourth in the league, 14 points off the top with seven games left, struggling to clinch an automatic Champions League spot for next season when the final will be held in Munich.
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