Mark van Bommel says it is "nice" to be linked with Bayern Munich but the PSV head coach distanced himself from the speculation.
With Bayern only fifth in the Bundesliga, nine points adrift of leaders Borussia Dortmund, the pressure is growing on Niko Kovac.
Reports have suggested Van Bommel - whose PSV side are five points clear atop the Eredivisie - could be a potential replacement at the Allianz Arena.
And speaking ahead of a Champions League game at home to Barcelona, Van Bommel indicated he is flattered by the press reports.
"That PSV is playing well, it's nice that people recognise this in other countries," Van Bommel told a news conference when asked what the rumours mean.
"We can measure ourselves with the others in our competition and in the Champions League.
"Unfortunately, we haven't had the results in Europe as we expected them to be.
"It's nice that people speak about this, but I'm currently the head coach here, although I have played for Bayern Munich."
PSV's hopes of Champions League qualification are already over as they have collected a single point after four matches.
Barca will finish top of Group B if they win at PSV and Van Bommel spoke about the strong links between Dutch football and the Catalan side.
"It's true they have a good relationship. There are a lot of players who went from PSV to Barcelona and sometimes they went other way," Van Bommel added.
"I think Spanish football and especially Barcelona always seek to play good technical football. That's what we want in Holland as well.
"We're a small country. We want to distinguish ourselves by playing nice football. But of course we also want to win games.
"The combination of good football and winning is something Barcelona has shown over the last 15 years. And people enjoy watching them.
"That's why the Dutch are big fan of Barcelona, because of this combination. And also because they play in orange sometimes."
