Bayern Munich chairman Karl-Heinz Rummenigge said the Bundesliga champions are ready to extend Niklas Sule's contract amid reported interest from Chelsea.

Sule has been linked with Premier League giants Chelsea, who are led by German head coach Thomas Tuchel, after Bayern announced the signing of RB Leipzig centre-back Dayot Upamecano.

Germany international defender Sule, 25, is contracted to Bundesliga and Champions League holders Bayern until 2022.

Asked about Sule's future in Munich after Bayern's shock 2-1 loss to Eintracht Frankfurt on Saturday, Rummenigge told ZDF: "Basically he is a German national player - and the philosophy of our club is that we always want the good German national players at Bayern.

"He now has another year of contract and it will be now we have discussions. And then we will see what results they lead to. Now we have to wait. We will certainly look at the whole thing seriously and calmly until the summer and then we will have to make decisions.

"If we can find a solution, we are basically ready to extend the contract. But that will only be possible under certain conditions."

Sule, who arrived from Hoffenheim in 2017, has started 11 of his 15 Bundesliga appearances this season – scoring once.

Across all competitions, Sule has featured in 25 matches for Hansi Flick's Bayern in 2020-21.

Rummenigge, though, warned of the financial impact caused by the coronavirus pandemic.

"I will say this in no uncertain terms - no longer have the financial resources that we once had before coronavirus," he said. "Corona has also caused financial damage at Bayern."

Rummenigge is set to relinquish his role at the conclusion of his contract in December.

As the clock ticks on his exit, Rummenigge said: "I'm interested that we become German champions and ideally play for the title in the Champions League again this year.

"But again: It's not because of me. I don't need a good exit, I've been able to win an incredible number of titles as a player and in my current position. We have now, for example, won our sixth title in one season in Qatar [Club World Cup], that is the setting of a world record Barcelona are allowed to put on their shirts.

"We definitely have a good team, we just have to play a little more committed than this week."

Bayern are five points clear atop the table, though that advantage could be reduced to two points if Leipzig beat Hertha Berlin on Sunday.

"We want to be German champions," Rummenigge added. "We have now given five points this week. That is not necessarily what we had in mind. But I guess there are many fans in Germany who think that's a good thing because the top has moved closer together again."