The Bundesliga giants are willing to sell Alcantara this season.
The 29-year-old’s contract ends next year, so Bayern doesn’t want him to leave as a free agent.
Alcantara was closely linked to the transfer to Liverpool, with Jurgen Klopp, a great admirer of the Spaniard.
The Reds may now be forced to step up their pursuit of the player, after Arsenal made enquiries.
It is however understand that both clubs are reluctant to meet Bayern’s £23million asking price.