The Germany international midfielder has turned down Bayern's first offer of a new deal, laying down his own terms to sign on the dotted line.
Should he not commit to a new contract, Bayern only have two more transfer windows in which to sell the 24-year-old, or they end up losing him on a free transfer in 2015.
Manchester United are believed to be one of the clubs monitoring the situation, and they can take a closer look at the midfielder in action when he plays against them in the Champions League on Tuesday night.
However, Rummenigge has warned that is as close as they are going to get to signing him.
"Toni Kroos will definitely still be playing for us next season," Rummenigge told the Munchner Merkur newspaper.
"Furthermore, we want him to carry on wearing our shirt beyond 2015."
Kroos is not concerned by the rumours of a move to the Red Devils either.
"That doesn't come into it," he said. "I'm flying to Manchester with only one thing on my mind, which is to qualify for the semi-finals of the Champions League."