The RB Leipzig boss has become one of the most sought-after coaches in world football in recent years and his club have told potential suitors they will need to pay a fee of £26 million to land the German, according to Goal and German outlet Spox.
Tottenham are said to be keen on Nagelsmann after sacking Jose Mourinho a week ago, with 29-year-old Ryan Mason hired on an interim basis.
But they will face fierce competition from German football’s dominant force Bayern Munich, who are expected to need a new head coach this summer.
Hansi Flick has been in charge of Bayern since November 2019, after being promoted from his assistant position after Niko Kovac was sacked.
Initially Flick was put in temporary charge before it was extended a month later until the end of the season.
But Bayern’s remarkable form – 18 wins in 21 competitive matches – meant Flick was given a three-year contract in April 2020.
Flick has been hugely successful at Bayern, winning six trophies. After claiming the treble of the Bundesliga, DFB Cup and Champions League last season, he followed it up with the German Supercup, UEFA Super Cup and the FIFA Club World Cup.
But Flick has had a strained relationship with sporting director Hasan Salihamidzic and has publicly stated he wants to leave the club in the summer, although Bayern have yet to agree to his resignation.
Flick is believed to be keen on landing the position as coach of the German national team, with Joachim Low set to step down after this summer’s European Championships.
The likes of Jurgen Klopp and Nagelsmann have stated they are not currently interested in the position of being national team boss, with the latter keen to remain a club coach in the coming years.
Nagelsmann may only be 33 but he already has five years’ experience in the German top flight.
He became the Bundesliga’s youngest ever permanent head coach back in February 2016, when he took charge of Hoffenheim with the club in 17th place.
After guiding them to safety in his first campaign, Nagelsmann secured a Champions League place in 2018.
Nagelsmann innovative methods and Hoffenheim’s performances on the pitch attracted the attention of a host of clubs and in the summer of 2019 he became RB Leipzig boss.
The club have continued to grow under Nagelsmann. He guided them to the Champions League semi-final in his first season in charge, before losing to Paris Saint-Germain, and finished in third place in Bundesliga.
This season they exited the Champions League in the last 16 at the hands of Liverpool but are on course for a second-place finish in the league and have closed the gap on Bayern.
Nagelsmann hails Thomas Tuchel as the biggest influence of his career, with the Chelsea boss giving him a route into professional football by asking him to scout the upcoming opponents during the 2007/08 season while Tuchel was Augsburg reserve-team coach.