Jupp Heynckes has told Rheinische Post that he has been asked to take over at Bayern Munich until the end of the 2017-18 season but is still considering the offer.
Bild and kicker had both earlier reported that Heynckes was set to return to Bayern and will replace Carlo Ancelotti who left the club last week following the Champions League defeat against Paris Saint-Germain.
He has been in retirement since winning the Treble with the club in 2013, Bayern's biggest success in club history, before being replaced by Pep Guardiola.
"Nothing is cut and dried yet," Heynckes said. "I first have to analyse the whole situation. After all, four-and-a-half years have passed since I left Bayern and football has continued to change."
Heynckes confirmed talks "about many things" had taken place with CEO Karl-Heinz Rummenigge, president Uli Hoeness and sporting director Hasan Salihadmidzic who had "asked him to take over the position until the summer of 2018."
Despite being 72-years-old, Heynckes told RP he still feels "fit" and capable of acting as interim boss until next summer, but he has to think about the pros and cons and did not know when he will make a decision.
It would be Heynckes fourth tenure at Bayern after he had won the Bundesliga twice in his first spell between 1987 and 1991. He took over again for six games in 2009 on an interim basis after Jurgen Klinsmann was fired and was hired yet again after Louis van Gaal was let go by Bayern in 2011.
Ancelotti left his role as coach at Bayern Munich last week after a 3-0 humbling at the hands of PSG in the Champions League -- their biggest group-stage defeat in 21 years. Assistant Willy Sagnol took over for Bayern's first match after Ancelotti's departure, and saw the side take a two-goal lead against Hertha Berlin before drawing 2-2.
"Ancelotti had five star players against him in the end," said Bayern president Uli Hoeness. "That would not have been sustainable."
Bayern made the decision to get 72-year-old Heynckes out of retirement until the end of this season after negotiations with former Dortmund coach Thomas Tuchel, who is currently unemployed, dragged on for too long, according to kicker.
Hoffenheim's coach Julian Nagelsmann is Hoeness' favoured successor to Ancelotti, according to reports by Sport Bild. The 30-year-old is under contract at Hoffenheim club until 2021.
Heynckes will be tasked straight away with trying to close the five-point gap to current leaders Borussia Dortmund in the Bundesliga.
ESPN FC's Germany correspondent Mark Lovell contributed to this report.
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