Portuguese side Benfica have reportedly put a 30million euros asking price for the 22-year-old, something Bayern are not prepared to pay.
Chelsea are reportedly keen to bring in Coentrao, should Ashley Cole leave the club.
“Coentrao is a great player, but we are not even close to paying Benfica SL the money they are looking for. They’ve got exorbitant demands, this deal is off,” Rummenigge told BILD.
“Michel Bastos is also no transfer possibility. He has been bought by Olympique Lyonnais for £15million last year.
“I have spoken to Louis van Gaal, we are going to keep looking for the right player.
“Should we find the right player, then it’s fine. If we do not find the right player, Louis has no trouble playing Diego Contento (at left-back) at the start of the new season.”
