The 28-year-old won 27 trophies during a 13-year spell at the Allianz Arena, and will link up with Los Blancos after signing a five-year contract. While Rummenigge admitted he was upset to lose Alaba, he admitted that Bayern simply could not match the terms offered by the Spanish giants.
He told Kicker magazine: "I think very few people in this existential crisis understand when a professional footballer already earns 15 million a year and then is not satisfied with 19.5 million."
When asked whether he meant Alaba, Rummenigge said: “We generally have to find a balance between the base and the economic component, we mustn't forget the football fan just because they haven't been to the stadium for a year. Football has always had a connecting element."
"I wasn't approached by many clubs, but Real Madrid were at the top of my list," Alaba told German newspaper Bild. "Like Bayern Munich, they are one of the biggest clubs in the world, with a special history and tradition.
"There have been so many great players in Real Madrid's history and so many great victories and trophies. I want to join and continue this successful story with the club and the fans. It will be a new chapter in life for my family and for me. I want to develop personally and professionally, and that's precisely why I'm coming to Madrid."