Bayern Munich chairman Karl-Heinz Rummenigge has warned that the Bundesliga champions are prepared to continue spending despite the signings of Mats Hummels and Renato Sanches.

Hummels signed a five-year contract with Bayern on Monday after completing a medical, with Borussia Dortmund reportedly set to receive a transfer fee €38million.

The deal for the Germany international was announced on the same day as an agreement with Benfica to sign rising midfield star Sanches, who could cost Bayern a total of €80m depending on possible add-ons.

But despite their significant outlay on both players, Rummenigge says they will not be discouraged from spending heavily again should the right target become available.

"We'll put our squad plans together and see," he told Sport Bild. "We signed two good players in Hummels and Sanches, now we have to look at what we will do from here.

"What we do always depends on what our intentions for the future are, too."

The future of Bayern forward Mario Gotze had been the subject of speculation, with the Germany international having featured sparingly under Guardiola since recovering from injury in the second half of the campaign.

A move to Liverpool to reunite with former Dortmund boss Jurgen Klopp had been touted, but Gotze stated on Monday that he intends to stay for next season.

Some reports had claimed that Carlo Ancelotti, who will take charge of the club in July, had informed Gotze that he was free to look for a new club, but the 23-year-old says it was his discussion with the Italian that helped convince him to stay.

"Contrary to recent reports, I had a very good phone call with Ancelotti," he told Bild. "And I am looking forward to working together with him."