Newcastle United's Nick Woltemade is delighted with how everything panned out after a proposed move to Bayern Munich fell through.

Woltemade joined Newcastle in a club-record £69m (€78m) deal from Stuttgart at the end of the summer transfer window.

The Germany international, however, had seemed destined to join Bayern earlier in the window.

The Bundesliga giants were not willing to match Stuttgart's valuation, though.

Woltemade, though, is more than satisfied with how things turned out.

"When I realised that [the transfer to Bayern] probably wasn't going to happen, I said to myself: Okay, then so be it. Everything in life has a purpose," Woltemade told Sport Bild.

"The perfect example of this is the failed Bayern transfer: I'm now really happy to be in Newcastle.

"That wouldn't have happened otherwise. In hindsight, I'm happy that it turned out that way. I believe that everything happens for a reason.

"When my agent told me about Newcastle's interest, I was at home in Stuttgart. I was immediately interested and wanted to hear more.

"Then I had some very good conversations with Eddie Howe, who is just a great person, and afterwards I immediately felt: I'm going to do it! In the end, everything happened quite quickly."

Woltemade has scored seven goals in 21 appearances for Newcastle across all competitions.

However, the 23-year-old has netted only once in his last 10 games, and he scored an own goal as Newcastle lost 1-0 to rivals Sunderland on Sunday.