"There is nothing signed yet but there is a verbal agreement between both FC Bayern and Atletico Madrid and also between Mario and Atletico," Sammer told a news conference, adding that the deal should be finalised soon.
There was no immediate confirmation from Atletico, who won their first La Liga title in 18 years and reached the final of the Champions League last season.
Mandzukic is considered surplus to requirements at Bayern following the arrival of forward Robert Lewandowski from Bundesliga rivals Borussia Dortmund.
Mandzukic has spent two years with the German champions, scoring 33 goals in 54 Bundesliga appearances. He netted the opener against Dortmund in the 2013 Champions League final, which Bayern won 2-1.
(Reporting by Iain Rogers, editing by Alan Baldwin)
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