Rodriguez, 27, has been one of the more bizarre cases in European football, as an elite talent that's yet to find the perfect club to showcase his undeniable ability.
As he enters his final months into his two-year loan deal from Real, confusion has arisen over where he'll be playing next season.
After scoring eight goals and registering 14 assists in 39 games across all competitions last season, it appeared that the Colombia superstar would become an integral part of the Bundesliga champions future.
However, the poor start to the new campaign under new head coach Niko Kovac, has reportedly caused the Bavarian giants to rethink their stance and transfer policy for their future.
Sport Bild recently claimed the German outfit, will look to overhaul the ageing squad and the €42m needed is seen as a stumbling block for a player who's fallen out of favour under Kovac, since suffering a knee injury.
But club chairman Karl-Heinz Rummenigge says no definite decision has taken place, as of yet by the club's hierarchy.
"In our agreement we have an option that we can make use of until 15th June 2019. We are having November now so I don't think it makes sense to speak about it now already," he said, as quoted by AS.
"I am of the opinion that James played great football last season. He was one of our best players as far as I remember.
"The game in Madrid [in the Champions League in May] he scored the 2-2 and then all the Madrid fans were applauding him."
Another major issue if he intends to return to Los Blancos is that South American wonderkids Vinicius Junior, Exequiel Palacios and Rodrygo, will likely fill up the foreign quota at the Santiago Bernabeu next season.