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'I feel sorry for Florian Wirtz for joining Liverpool - and £65m for Nick Woltemade is financial MADNESS': Bitter Bayern Munich chief lays into Reds and Newcastle's transfer business

Bayern Munich chief, Karl-Heinz Rummenigge, has taken a swipe at Liverpool and Newcastle's summer business for Bundesliga stars in a bitter attack.

The Reds snatched Florian Wirtz for £116million despite Bayern's interest and the German giants were also beaten to £65m Nick Woltemade by Eddie Howe's side.

Rummenigge, who was formerly the CEO at Bayern and is now on their advisory board, pulled no punches in discussing both moves.

'I have to honestly say, I still feel sorry for Florian Wirtz because I think the player would be better off at Bayern Munich than at Liverpool,' the 69-year-old told Welt.