The 33-year-old footballer almost left Premier League champions Manchester City to join the German giants this summer but ultimately opted to stay at the Etihad Stadium after being promised game time by manager Pep Guardiola.
Walker said: “It was close but in football things can happen.
“Decisions can be made, things can turn. It wasn’t meant to be.
“Would I have enjoyed the experience? Of course I would, but this is a great club and you can’t underestimate what this club has done in the last six or seven years.
“Why should I walk away if I am going to get enough game time that’s right for me? That is all I want.
“It was about who gave me the most years. It wasn’t like I was going to a worse club because Bayern Munich is a massive club and seeing what Harry (Kane) is doing there and will do, it wasn’t a step down.
“In the back of my head I always wanted to play for Manchester City but I had to do what was right for me and my future. It was just about which club gave me the years in my contract to play football at the highest level.”
Walker explained that he would not have agitated to leave as he feels that he has a responsibility to City and is now looking to commit his future to the team.
He said: “I am a Manchester City player. I am contracted to them so what do you want me to do? Turn round and say ‘I am not playing because I want to force a move to Bayern Munich’?
“That is not me as a person. I have a contract with the club and I will play for the club until the contract (ends) or they sell me – and I wasn’t sold.
“The extension is coming.
“It’s my seventh season here and I feel like one of the old ones.
“I love the place. I’ve experienced things I only dreamt of here – especially the last season – so why would you want to leave a club like this?”