The Dortmund star is the latest to be rumoured to follow former team-mates Mario Gotze and Robert Lewandowski to the Allianz Arena having starred for Jurgen Klopp's men for two seasons.
However, the chairman of the Bavarian side has claimed that no agreement is in place yet and was vague regarding a future bid due to the topsy-turvy nature of modern day football.
"I like to give myself a year in advance to make transfer decisions," the 58-year-old told Bild when asked about whether Pep Guardiola's men would bid for Reus. "But this cannot be done in football any more.
"In the past we have tried to clarify our transfers early, but today the philosophy is different."
Reus was tipped to star for Germany at this summer's World Cup in Brazil, but an ankle ligament injury saw the 25-year-old miss the tournament altogether, which Joachim Low's men ultimately won.
Reus is currently back in training with Dortmund as they prepare for their assault on the Bundesliga in the forthcoming campaign.