Bayern Munich have not revealed their asking price for Thiago but the midfielder is free to leave this summer, claims AS.
Thiago has spent the last six years at Bayern but is keen to return to boyhood club Barcelona before the start of next season.
Barcelona have already signed Arthur from Gremio this summer but want to sign another midfielder following the shock departure of Paulinho.
Ajax starlet Frenkie De Jong and Paris Saint-Germain Adrien Rabiot are also on Barcelona’s radar but the idea of Thiago’s return appeals to the Spanish champions.
Despite a willingness to sell Thiago, Bayern want any suitors to make the first move and build on talks from there, which has complicated matters for Barcelona.
Thiago is regarded as one of the finest technical midfielders in Europe and Barcelona were ridiculed for their decision to sell someone so suited to their philosophy.
The Spain international only managed 19 appearances in the Bundesliga last season and only 12 of those came as starts.
Despite not being renowned for his defensive work, only Daniel Baier (162) has made more interceptions than Thiago (152) in the last two Bundesliga seasons.
