Olise, 24, is keen to force through a switch to Real Madrid as soon as this summer, though Real have so far held back from making a concrete move and Bayern have shown no willingness to negotiate.
That has not stopped Bayern from preparing contingencies, with sporting staff having already made contact with Paris Saint-Germain over Barcola, 23, should the Olise situation develop further as the summer progresses.
PSG have now set their asking price for Barcola at €150m, according to Bild, confirming earlier reports in the French media. Arsenal and Liverpool have also registered interest in the winger, whose contract in Paris runs until 2028.
Barcola contributed three goals and one assist for France at this summer's World Cup, but at club level finds himself behind Desire Doue and Khvicha Kvaratskhelia in the pecking order for most big matches.
His annual salary of around €7m is also relatively modest by PSG's standards, with Bild reporting he could "comfortably double" his earnings at Bayern Munich. He has so far been reluctant to extend his contract, with talks currently on hold.
Should Olise stay put in Munich this summer, Bayern are expected to hold back on Barcola too, given a move for the Frenchman would likely be cheaper next summer, when just a year would remain on his PSG deal.
Olise's own contract runs until 2029, and Bayern are prepared to offer him a significant pay rise from €14m to €25m a year to keep him at the Allianz Arena. The left-footed winger wants to discuss his future with the club's hierarchy soon, with Champions League ambitions – and the strength of the squad built around him – central to his thinking. For now, he sees that project as more advanced at Real Madrid.