According to German outlet Sport BILD, Sane has offers on the table from two unnamed clubs while Bayern Munich's position could be under threat from the La Liga giants.
The report claims that there was a secret meeting between Bayern and LIAN Sports, who represent Sane and Jerome Boateng, in Munich this week.
Sporting director Hasan Salihamidzic was believed to be representing Bayern at the meeting with one of Europe's biggest agents Fali Ramadani.
Sane and his family were reported to be using David Beckham's London based agency to help engineer a move, but it's understood they have since stopped collaborating.
It's said that Bayern Munich will offer Sane a substantial five-year-deal before agreeing a fee with Manchester City.
The 24-year-old's camp has reportedly already indicated to the Bayern board that he is ready and willing to make the move.
However, the Bavarian club's time is running out as it's claimed that Barcelona and Real Madrid are poised to enter the fray.
It's estimated that any club who ends up buying Sane will have to pay approximately €100m (£92m).
