The in demand Reading fullback is rumoured to be close to agreeing a three-year contract with the European champions.
Richard’s contract with the Royals is up at the end of the season, so he is free to speak to club’s this January and sign a pre-contract agreement.
Reading manager, Veljko Paunovic, has improved fortunes at the club dramatically since his arrival – and he has not yet given up on Richards committing his future to the Royals, and has personally spoken to the left-back about his future at the club.
“I did have conversations with him and I gave him [Richards] my complete support that we would like to have him here,” said Paunovic.
“He has told me he is on the same page as the team and wants to deliver his best.
“He is having a great year and we want to keep him healthy, on the field, and help him continue playing his best football so far.
“If we have to lose him – and I’m not giving up on that – I would be disappointed.
“What he showed in his football, his quality and all the investment and the relationship I have with him is excellent.
“At this point I’m not giving up on him or any of our players who may be approached in this window or the next one.”
It is thought that Bayern see the England U21 international as potential cover at left-back with Austrian fullback, David Alaba, running down his contract at the club. This would leave the German champions without any cover for Canadian left-back Alphonso Davies.
Richards, 22, would be part of the recent influx of talented young English players to make the switch to the Bundesliga. Which most notably include Borussia Dortmund’s Jadon Sancho and former Championship Young Player of the Season, Ryan Sessegnon, who is currently plying his trade at Hoffenheim.