The mood following Bayern Munich's 2-0 loss at Arsenal for their traditional midnight banquet following an away match for the Champions League was relaxed.

"I don't like to sugarcoat defeats," Karl-Heinz Rummenigge started, "because there's nothing beautiful or good about a defeat. But this was a unfortunate defeat, a defeat where the team left the pitch with its head held high."

Rummenigge is ready to make one final big push in the coming weeks to extend the contract of Pep Guardiola, so a balanced appraisal is prudent business for Bayern's executive chairman.

Bayern find it hard enough to accept "no" as an answer but no answer at all is seen as a minor insult.

There have also been rumors of Bayern holding preliminary talks with Carlo Ancelotti in case Guardiola doesn't renew.