Plus, Bayern CEO Karl-Heinz Rummenigge bids farewell to the German midfielder after confirming that an agreement has been reached over his Old Trafford transfer.

Bundesliga giants Bayern Munich have confirmed that after 500 games with the Bavarians, 67 goals, eight German league crown, and a Champions League title in 2013, midfielder Bastian Schweinsteiger will be leaving the Allianz Arena.

CEO Karl-Heinz Rummenigge confirmed, with rumors heavily linking the 30-year-old with a move to English Premier League giants Manchester United, that they have reached an agreement with the Red Devils over his transfer.

Reports on Friday tipped the 2014 World Cup winner to join the Manchester giants, before the club officially announced an agreement has been reached the following day via Twitter, though he is yet to undergo his medical.

According to Rummenigge, having enjoyed tremendous success in Germany, the player is now ready for pastures new, whilst also admitting it is a great loss to see a player of his quality leave die Roten.

"Bastian wants to do something new at the end of his career," Rummenigge revealed in a news conference. "He asked that we meet his wishes.

"My colleagues at Manchester United have been in touch. We've reached an agreement over a transfer.

"It's regrettable because Bastian meant a great deal to the club. He achieved great things."

Schweinsteiger, with only one year left to his current deal at Bayern, is believed to be set for a substantial pay rsie at Man United.

The German will now head to the Theatre of Dreams, becoming the 20-time English champions third signing of the summer, after the arrivals of Memphis Depay from Eredivisie champions PSV Eindhoven and Italian right-back Matteo Darmian from Torino.

This deal will go a long way to help Louis Van Gaal's side mount a serious challenge for the league crown, and improve from last season's fourth finish, as they look to reclaim their glory and title as the country's best team, having just made a return to the Champions League after a year absence.