Bayern Munich are reportedly preparing for a change in goalkeeping options, with Manuel Neuer's contract situation pointing towards the veteran potentially ending his career next summer.
Jonas Urbig is expected to be considered for the number one position, but Bayern are also looking for an experienced goalkeeper who could provide competition and cover.
Dahmen has emerged as one of the players under consideration, and Augsburg coach Baum has acknowledged that the possibility of losing his goalkeeper is something the club has discussed internally.
“At Augsburg, it is already part of the philosophy that we also let players go who perhaps perform above average,” Baum told Bild.
The coach believes it is natural for a player performing among the Bundesliga's best to attract attention from the country's biggest clubs.
“If someone is among the best in the Bundesliga, then he is certainly a topic for the best clubs in the Bundesliga,” Baum said.
“We talk about it internally. Of course there are discussions with Finn.”
Dahmen will turn 29 in March and therefore faces an important decision about the next stage of his career.
Baum believes the goalkeeper will have to consider whether moving to a club such as Bayern, where he would initially be competing for a place, is more attractive than remaining a guaranteed starter at Augsburg.
“Finn will be 29 in March. He has to know: do I already want to move into the second row, or do I stay at a Bundesliga club where I am in the first row?” Baum explained.
That same question could apply to Marvin Schwäbe, who has also been linked with Bayern as an alternative to Dahmen.
Both goalkeepers are currently on course to become available on free transfers next summer, adding another factor to Bayern's recruitment plans.
For Dahmen, a move to Munich would represent a significant change in status. He would potentially join one of Europe's leading clubs, but the immediate route to regular first-team football could be less straightforward than at Augsburg.
Bayern's eventual decision is also likely to depend on what happens with Neuer and Urbig during the remainder of the season.
For now, however, Baum's comments indicate that Augsburg are aware of the interest and would not necessarily stand in Dahmen's way should the right opportunity arrive.