Xabi and which team he will go to is just a pure speculation at the moment, I do not believe that they are going to be all that much aware of his decision more than us. Newspapers will just write whatever they want to write and won't care about anything. Bayern is in troubled position right now, sort of because of Xabi as well, so him wanting to go to Bayern would not make sense, but even if that's true, even Xabi doesn't know who he will pick yet as long as it is not official.
We should wait and see, until the very very official deal being public to everyone, I will not believe anyone at all. It should be important to realize that we are going to end up with some stuff that are not easy to handle, so it is not going to be easy.
It is natural that Xabi is always linked with several clubs who want him, especially Bayern Munich and Liverpool, which are always hot news in many newspapers circulating. Romano even reported several times about Xabi Alonso, as did Leverkusen who believed that Alonso would stay at BayArena. however, it would be very natural, after all, Bayern Munich is eyeing several names as potential replacements for Thomas Tuchel.
IMO, the most ideal team for Xabi Alonso to spread his wings is Bayern Munich rather than leaving for the Premier League. however, at this time we cannot confirm whether Xabi will really leave or stay. as you said, everything is still about speculation like when Alonso was linked with Real Madrid. well, before going into further detail about the departure of the Leverkusen coach, let's just follow how Xabi Alonso brought his squad, both in the Bundesliga and in the Europa League. moreover, Leverkusen is very close to the trophy in this competition.