The Spaniard has also been linked with a switch to La Liga with Atletico Madrid, Valencia and Barcelona all said to be interested.
Bayern Munich are also reported to be keeping tabs on the 21-year-old.
Mundo Deportivo claim he will only move to a club in Europe’s top competition which would rule United out entirely as Ole Gunnar Solskjaer’s side are set to play in the Europa League after finding sixth in the Premier League last term.
Even so, his future appears to lie away from Zagreb after he came to prominence with a string stunning displays as Spain won the Under-21 European Championships.
He admits a number of teams are interested in signing him and says he will make a decision on his next move in due course.
“There’s talk about a lot of teams and many more rumours,” he said.
“I don’t know what is true and what isn’t. I’ve wanted to disconnect from everything and when I have the chance to speak with my agent, we’ll see.
“I’ve always said that I wanted to return to Spain, it would be nice, but we’ll see what happens.
“I’m not ruling out any team. Out of respect to everyone who is interested in me, I’m not going to say anything. You have to respect them all.”
His agent, Andy Bara, has also spoken about his future and claimed his client could be tempted by Bayern Munich.
“Bayern is a big club, and there’s no player on this planet who doesn’t want to play for such a club,” Bara said.
“They have the best scouts in the world and if there’s interest, they can pay Dinamo’s asking price and the salary of such a player.”
Olmo spent seven years in the Barcelona academy before moving to Croatia in 2014.