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Published 10:10 17 Jul 2017 BST
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That might still happen, but it hasn't gone to plan since winning the Euros in France last summer.
Sanches couldn't break into Bayern's team. He started only six league games in the whole season and was then omitted from Portugal's squad for the Confederations Cup. If he has another season like that, the midfielder could miss out on the World Cup in Russia next summer.
Sanches will have added competition for a starting place at Bayern next season. Carlo Ancelotti's side have signed Corentin Tolisso, Sebastian Rudy and James Rodriguez, making it even more difficult for Sanches to get regular playing time.
Karl-Heinz Rummenigge, the club's CEO, has been speaking about AC Milan's interest in the player, and appeared to name Bayern's price for him.
Milan approached Bayern about signing Sanches on-loan, but it seems the German club would prefer a permanent deal. According to Four Four Two, Milan wanted to take the player on a two-year loan, with an option to sign him at the end of the deal for £35m.
"I can confirm that Milan have shown interest in Renato Sanches," Rummenigge told German media outlet Bild.
"But we did not get any further. They reported midweek. And if you borrow a player from Bayern, that also has economic effects. At least I have the impression that AC Milan are not ready to meet our demands. It was not just about lending. At €48m (£42m) I would not be dissatisfied."
Bayern's transfer fee for Sanches could rise to €80m if the player is named in the top three for the Ballon d'Or, or in the FIFA team of the year.
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