TuttoJuve are reporting that the Serie A giants are considering a bid for the midfielder who is out of contract next summer.
City boss Pep Guardiola, who worked with the Spain international at Barcelona and Bayern Munich, is also ready to make a move.
Former Barcelona star Thiago, seen as one of the world's best midfielders, is keen on a move to England, with the newly-crowned champions Liverpool said to be eyeing up a £32million deal for the midfielder this summer.
Klopp has this week brushed aside speculation linking his side with Thiago, whose contract with Bayern ends next summer.
"Thiago is a really good player, like a lot of other players out there I like a lot, but that's all I have to say about it."
As Thiago's contract nears its end, his manager Hansi Flick said he was optimistic he could convince the player to commit his future.
"I'm trying my best to make sure Thiago stays here and that you can convince him to stay," he said. "But that's one thing that time will show.
"We still have the Champions League ahead of us now and we have a lot of plans, also together with him."
Thiago, a product of Barcelona's La Masia academy, has made 231 appearances since joining Bayern from Barcelona in 2013, despite suffering with a host of injury problems since his arrival. This season he has started 25 times and scored three goals and providing two assists.
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Saif
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