"The report that our club have reached an agreement with Jamal Musiala and Bayern Munich is not true. This is for the information of the public," the Istanbul club said in a statement issued on Sunday evening.
Turkish outlets had reported a week earlier that Musiala had been offered to Galatasaray on loan, with some reports later claiming an agreement had already been reached between the two clubs.
Bayern Munich have given no indication they would be willing to part with the 23-year-old, who remains under contract in Munich until 2030. According to Fabrizio Romano, Bayern's hierarchy has no intention of letting Musiala leave and continues to trust him fully despite a difficult period following a serious injury.
Sky Germany similarly reported that no talks had taken place between the two clubs, while Bild's own reporters dismissed the rumours as "absolute nonsense" on their Bayern Insider podcast.
Musiala made 24 appearances for Bayern last season, scoring five goals and providing six assists, a reduced return after a long injury lay-off. He recently underwent a procedure to remove a plate from his foot that had been inserted during surgery for the injury, and is targeting a return in time for Bayern's DFL-Supercup meeting with Borussia Dortmund on 22 August.
The rumours were fuelled in part by comments Musiala made following a Champions League match in Istanbul in 2023, when he praised the atmosphere created by Galatasaray's supporters, remarks that resurfaced widely on social media once the loan speculation began.
Competition for Musiala's favoured central attacking role at Bayern Munich will be sharper than usual next season following the signing of Ismael Saibari and with Michael Olise also expressing a desire to play more centrally, adding some context to why speculation over his future gained traction in the first place.
Bayern, however, regard the Germany international as one of the most important players in their long-term plans and are said to have no active work under way regarding a departure, with the club fully focused on ensuring his return to full fitness ahead of the new campaign.