Carlo Ancelotti has reopened the door for Bayern Munich to make a move for Arsenal's in-demand forward Alexis Sanchez.

Bayern president Uli Hoeness this week seemingly ended speculation the Bundesliga champion would bid for Sanchez, who has a year left on his Arsenal contract, suggesting the club would not pay big money for older players.

But with the Chile international preparing to face Germany in Monday's (AEST) FIFA Confederations Cup final, Ancelotti indicated he would be interested in bringing 28-year-old Sanchez to Bayern.

"If an opportunity comes up, the club will be ready," Ancelotti said at a media conference to mark the first day of Bayern's pre-season preparations on Sunday (AEST).

"There are lots of rumours. Alexis is a great player but not the only one in the world. I like Alexis."

Hoeness had said Bayern would not be willing to pay fees in the region of €100 million ($148.5 million) for 29 and 30-year-olds but Ancelotti appears keener to do a deal for Sanchez.

"There are possibilities in the transfer market, which can be in many directions," Ancelotti said. "I believe that the market is currently somewhat crazy, and Bayern is not a crazy club. 

"I know the culture of this club and will not ask for any players for whom the club has to spend crazy sums, but if there are occasions, why not?"

Sanchez was typically non-committal when he appeared at a news conference on Saturday (AEST) alongside Manchester City's Claudio Bravo, the forward asked directly by reporters whether he would join the goalkeeper at Etihad Stadium.

"Good question," Sanchez said. "Right now I'm focused on the Confederations Cup. When this is finished I will see if I stay or go."

When pressed, Sanchez added: "Yes [my future] is clear, but I can't tell you."