Bayern Munich have appointed Julian Nagelsmann as their next manager and have paid a significant compensation to RB Leipzig, which will break the previous record of €15 million paid by Chelsea to Porto for Andre Villas-Boas.
Nagelsmann is set to replace Hansi Flick, who asked Bayern to release him from his contract two years before its expiry date earlier in the month following a rift with sporting executive Hasan Salihamidzic over the Bundesliga champions' transfer strategy and philosophy.
"FC Bayern have appointed Julian Nagelsmann as their new head coach," a Bayern statement read. "The Bavarian-born 33-year-old will move to Munich from RB Leipzig on July 1, 2021 ahead of the new season, signing a five-year-contract with the German record champions until June 30, 2026."
Nagelsmann joined Leipzig from TSG Hoffenheim in 2019 and led them to the Champions League semifinal in his first year in charge.