Bayern have long admired Olmo and previously explored the possibility of signing him during his time at RB Leipzig. However, there has been no offer for the midfielder from the Bundesliga champions, and neither Olmo nor Barcelona are looking to make a move happen.
Olmo, who signed for Barcelona from Leipzig in 2024, has a contract with the club until June 2030 and is happy with his situation.
The 28-year-old has established himself as an important player for both Barcelona and Spain. He has made 96 appearances for Barcelona, scoring 20 goals and providing 20 assists.
His versatility has also made him particularly valuable. Olmo can play in midfield, as an attacking midfielder or from the left, giving Hansi Flick several options when selecting his team.
Olmo recently explained how his role changes between Barcelona and Spain.
At Barcelona, he said Flick asks him to be more direct in his play.
"Hansi Flick asks me to be more vertical and attack more spaces."
His role with Spain gives him greater freedom, according to Olmo.
"Zinedine Zidane gives me more freedom between the lines."
Despite competition for places at Barcelona, Olmo insists he is comfortable with his responsibilities and wants to continue improving.
"I feel good both ways and I want to continue demonstrating that. I can still give much more at Barca."
That message is clear for Bayern and any other potential suitors. Olmo wants to remain at Barcelona and continue competing for trophies under Flick.
Barcelona also have a busy period ahead, with important La Liga and Champions League fixtures on the horizon.
Their immediate focus, however, is Saturday's La Liga clash with Getafe at Camp Nou.