The second division outfit are in the market for a new boss, and allegedly are keen on signing the former Bayern Munich and Inter midfielder.
"I would like to coach at 1860," Matthaeus recently said.
The Loewen are in financial trouble, but that is seen as no obstacle for the 49-year-old, who added: "Maybe I will [coach] for nothing."
Matthaeus is a legendary figure in Germany, but since his retirement in 2000 has failed to land a coaching job in his homeland. Over the past decade, he enjoyed stints in charge at the likes of Rapid Wien, Atletico Paranaense, and Red Bull Salzburg, as well as the Hungarian national side, before arriving in Bulgaria.