Karl-Heinz Rummenigge, the CEO of Bayern Munich, has confirmed that the club are in talks with AC Milan over a potential loan move for Portuguese wonderkid Renato Sanches. The 19-year-old is expected to leave the Allianz Arena on loan this season, although the Serie A side could have the option to sign Sanches permanently for €40m in the future, according to ESPN reports.

Speaking at Munich airport prior to departing for the clubs pre-season tour of Asia, Rummenigge said: "I can confirm AC Milan are interested in Renato Sanches."

Sanches failed to make an impact during his maiden campaign in the Bundesliga, prompting Bayern Munich to sign midfielders Corentin Tolisso and James Rodríguez this summer. Adding to the arrival of Sebastian Rudy from TSG Hoffenheim as well, Sanches immediate future in Bavaria appears to be over.

Sanches won the 2016 Golden Boy award and he started in Portugal's success during the Euro 2016 competition, earning a €35m transfer from SL Benfica, a side he had played for since he was an 11-year-old.

​​Rummenigge also commented on reports that Bayern would be reigniting their interest in Arsenal star Alexis Sánchez.

"I don't know what he has said but we are no longer involved," Rummenigge said. "We are in agreement with the coach [Carlo Ancelotti] and we won't be doing another deal for an attacker. That makes no sense."

Having confirmed the signing of Real Madrid's Colombian midfielder Rodríguez last week, Bayern are looking elsewhere in the transfer market as they hope to retain the Bundesliga title next season, as well as provide a significant threat in the Champions League.