While, Rennes recently rejected a bid from Bayern for the French forward, according to Santi Aouna, the move is in the final stages as Bayern are pushing to get it done as soon as possible.
The player could cost up to €40 million including add-ons, making him one of the most expensive 17-year-olds in football history.
While the guaranteed fee is still unknown, it could be even higher than what Real Madrid paid to sign Eduardo Camavinga from Rennes last summer.
Tel did not train with Rennes on Friday, with there just being the final details needed to be settled for the move to go through.
Bayern are desperate for a new striker, and snapping up Tel as soon as possible seems like the logical move for the German side, even though they might still need a senior striker in the squad.
The only real options to play up front for Bayern are Joshua Zirkzee, Eric Maxim Choupo-Moting, Gabriel Vidovic, and possibly either Sadio Mane, Serge Gnabry or Thomas Muller. The only problem is that Zirkzee and Vidovic are poised for loan spells, and Mane, Gnabry, and Muller aren't natural strikers, leaving Choupo-Moting as the senior striker in the squad.
Tel barely has any first-team experience, only playing 10 games for the Ligue 1 side's senior squad last season, and all of them were from the bench with 15 or so minutes left to play, so it remains to be seen whether he will be the right signing for Bayern.