Bayern Munich CEO Karl-Heinz Rummenigge​ has provided an update on the club's transfer plans, while also discussing the 'dizzying' increase in wages. 

The German giants currently find themselves second in the Bundesliga and are locked in a tight title race, with RB Leipzig sat top of the table. To that end, Borussia Mönchengladbach are only one point behind Bayern, while Borussia Dortmund are a further two points adrift.

, Hansi Flick ,

Rummenigge has now provided an update on the club's summer transfer plans, firstly explaining that the club must 'first' open talks with six key players, who all have contracts expiring in 2021.

"We have some players who still have a year and a half on their contract. The first thing we will do is have talks," he said in an interview with Münchner Merkur, as quoted by ​kicker​

"These players have done great service for ​FC Bayern - regardless whether it is David Alaba, Thiago, ​Jerome Boateng, Javi Martinez, Thomas Müller, or Manuel Neuer. Of course will conduct talks with these players with great sensitivity before we make any decisions."

Jerome Boateng ,

In regards to potential incomings, the 64-year-old insisted that the club do not want to set 'a new record' regarding transfer fees in the current market, while he also opened up on the 'dizzying' increase in wages, which he claims are much more concerning than transfer fees. 

He added: "It is not in FC Bayern’s interest to set a new record. But there is no transfer market just for FC Bayern, but rather a transfer market for all soccer. And we know from experience that this transfer market knows only one direction with respect to prices and pace: up. 

"What I am much more concerned about than the development of transfer fees is the development of wages. It is dizzying."