The German winger is on the verge of joining the Bundesliga champions after turning down a contract from the Premier League club
Manchester City winger Leroy Sane is set to complete a move to Bayern Munich after the two clubs agreed to a deal worth up to €60 million (£54.8m/$67m).
The Bundesliga champions will pay an initial €49m (£44.7m/$55m) for the German international with another €11m in add-ons. City have also secured a 10 per cent sell-on clause.
Sane, who was in the final year of his contract, is set to fly to Munich in the next 24 hours to complete the move and is not expected to play for City again this season.
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The 24-year-old will sign a five-year deal believed to be worth €22m (£20.1m/$24.7m) a year, more than City were prepared to pay.
City had offered the former Schalke player a new deal that was turned down. The club is believed to happy with the money recuperated with uncertainty surrounding the transfer market amid the Covid-19 pandemic and its impact on football finances.
Sane has missed most of the current season with injury but was one of the key players as City won the domestic treble last year.
City boss Pep Guardiola recently admitted that he was disappointed that Sane had turned down a new deal with the club.
“I’m so disappointed,” he said. “When we make an offer it’s because we want him; he’s got a special quality that is difficult to find.
“We tried before the injury [and] the surgery and after that and he rejected this offer. He has other wishes and I understand [but] we want players who want to commit and achieve our targets.
“I love him so much, he’s incredible, I’ve nothing against him – he wants another adventure.”
Sane was at the centre of a transfer saga between the clubs last summer that was expected to rumble on until deadline day, only for the winger to suffer a serious knee injury in the Community Shield in August.
Bayern decided against a move in January, with Sane still recovering from the setback that has seen him miss the whole season so far, though he was edging closer to an on-field return when the Premier League was shut down by the Covid-19 outbreak.
His only appearance since August was a 10-minute cameo in the 5-0 victory over Burnley in June.
Sane joined City in August 2016 from Schalke in a deal worth €52 million (£37m/$46m).