Former Bayern Munich chief Uli Hoeness has claimed that Liverpool and Manchester United will try to "blackmail" the club over Thiago Alcantara towards the end of the transfer window.
Liverpool have been strongly linked with the Spain international for a number of weeks now, while United and Barcelona are also thought to hold an interest in signing the midfielder.
Hoeness reiterated that Thiago wants to leave the club and even suggested that he could have already agreed personal terms with Liverpool and United, but he warned the Premier League duo that Bayern could still keep the 29-year-old if their asking price is not met.
"We offered him a great four-year contract but in the last minute he changed his mind and told us he wants a new challenge," Hoeness told Sport1.
"He probably has an agreement with Liverpool or Manchester United, or with both. Both clubs have not come to us with an offer.
"They are bluffing and want to blackmail us by waiting until the last week and then make a cheap offer. Bayern must decide whether they want to play this game or stand their ground and keep Thiago."
Thiago made 40 appearances for Bayern last season as the German giants won the treble.