Bayern Munich has officially announced Vincent Kompany as their new manager.

Kompany has signed a three-year contract with the Bundesliga giants, replacing Thomas Tuchel, who stepped down at the end of the summer.

To secure Kompany, Bayern will pay Burnley £10 million to release him from his contract.

“I’m really looking forward to the challenge at FC Bayern. It’s a great honor to be able to work for this club—FC Bayern is an institution in international football,” Kompany said in a statement.

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