The 65-year-old, who previously served as interim manager for Manchester United, emerged as a frontrunner to succeed Thomas Tuchel at the Bavarian helm.

But fervent support for Tuchel among the club's fans –  who launched a petition for him to stay on in the wake of talk of the Rangnick bid – appears to have ended any deal.

German newspaper Bild has reported Rangnick has opted against a move to Bayern, to prolong his stint at the Austrian national team.

It marks another setback for Bayern in their quest for Tuchel's replacement, following a series of disappointments in the managerial market.

Bayern's pursuits included an attempt to lure Xabi Alonso from Bundesliga rivals Bayer Leverkusen, only to see the former Liverpool midfielder rebuff their advances in favour of staying with his current club, despite reported interest from Liverpool.

Subsequent bids to secure Julian Nagelsmann faltered as the former boss chose to extend his contract with the German national squad.

Hopes of acquiring Unai Emery were also dashed when the Spaniard committed his future to Aston Villa.

Rangnick's name will ring a bell with English football fans due to his brief and underwhelming stint as interim manager at Manchester United, a tenure slammed by Cristiano Ronaldo.

But he has since found success at the helm of the Austrian national team, securing their qualification for the upcoming Euro 2024 tournament, where they are slated to contend against formidable opponents in France, Poland and the Netherlands.

Meanwhile Tuchel, eager to conclude his Bayern tenure on a high note, remains focused on Champions League glory.

The former Chelsea tactician, credited with guiding the Blues to European triumph in 2021, witnessed his side secure a 2-2 draw against Real Madrid in the first leg of their semi-final clash, setting the stage for an enthralling return fixture at the Bernabeu next week.