Bayern Munich has reached an agreement to appoint Belgian Vincent Kompany as their new manager for the next three years, paying $10.5 million to secure his services from Burnley, according to BILD.

Both parties had previously reached a verbal agreement, and the official announcement is expected next week, as reported by the German media outlet.

Kompany was initially on Bayern's shortlist of desired managers. The club faced rejections from several candidates, including Xabi Alonso (Bayer Leverkusen), Julian Nagelsmann (Germany national team), Ralf Rangnick (Austria national team), Oliver Glasner (Crystal Palace), and Roger Schmidt (Benfica).

Reportedly, Bayern Munich even attempted to persuade Thomas Tuchel to reconsider his decision to step down from the role.