BP Eyes Ex-Centrica CEO Laidlaw, BHP's MacKenzie as New Chair, Sky Says
Lund, who revealed plans to step down in April, faced a significant shareholder revolt at BP's annual general meeting, with nearly 25% voting against his re-election despite his announced departure.
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Luis Díaz Joins Bayern Munich From Liverpool For $88 Million
Bayern Munich has completed the signing of Colombian winger Luis Díaz from Liverpool. (Photo by John ... More Powell/Liverpool FC via Getty Images) Bayern Munich is set to sign Luis Díaz from Liverpool. On Sunday, several outlets reported a breakthrough in the negotiations between the two clubs, with Bayern reportedly paying €75 million ($88 million) for the 28-year-old Colombian winger. Díaz has already agreed personal terms with Bayern and will sign a contract until 2029 with an option for one additional year. The winger is set to leave Liverpool's Asia tour in the next day or so to travel to Munich, where he will complete his medical. How did a deal come together? After missing out on Leverkusen's Florian Wirtz, Bilbao's Nico Williams, and PSG's Bradley Barcola, Bayern Munich identified Díaz as the next alternative to replace Leroy Sané. Sané left Bayern Munich as a free agent this summer, joining Turkish side Galatasaray. A deal with Liverpool, however, wasn't easy to reach. Initially, the Premier League club wanted a deal that was significantly higher than his Transfermarkt market value of €70 million ($82 million). Bayern, in the meantime, was somewhat reluctant to meet Liverpool's initial demands, understood to be in the region of €80 million ($93 million). But with Díaz pushing for a move, both sides were willing to reach a compromise. Indeed, for Liverpool, the transfer still constitutes a major profit. Liverpool signed the Colombian winger in January 2022 in a deal worth €49 million ($57 million) including add-ons. Why are Liverpool selling Díaz now? The Colombian actually pushed for an exit in 2024. Back then, Liverpool managed to convince the winger to stay on, and Díaz ended up playing a fantastic season under Arne Slot. In fact, Díaz had his most productive Premier League campaign in 2024/25. Under manager Slot, the winger scored 13 goals and contributed seven assists in 36 league games. In comparison, his most productive campaign prior was eight goals and six assists in 37 league games during the 2023/24 season. Luis Díaz in action against his new team. The Colombian is set to travel to Munich to complete his ... More medical shortly. (Photo by Mohd RASFAN / AFP) (Photo by MOHD RASFAN/AFP via Getty Images) With those numbers in mind, Díaz hoped for a significant salary increase that Liverpool couldn't meet. According to a report by Bild, Bayern is willing to pay Díaz €14 million a season ($16 million), significantly more than he could have made in England. It was also an opportune time for Liverpool to sell. The Red have already secured Florian Wirtz from Bayer Leverkusen and Hugo Ekitiké from Eintracht Frankfurt. Together the two cost €235 million ($275 million) in transfer fees. On top of that, Liverpool spent significant fees for Leverkusen's Jeremie Frimpong and Bournemouth's Milos Kerkez. According to Transfermarkt, Liverpool's spending this summer has now topped €300 million ($352 million). The club would also like to add Alexander Isak from Newcastle United. With more arrivals planned, Liverpool had to sell an asset, and Díaz made sense. It is at this stage where the deal must be seen a bit critical from Bayern's perspective. Although a top-class winger, Díaz is nearing his prime and at 28 might already past it. By paying a significant fee, the Rekordmeister is also helping a Champions League competitor to further strengthen its squad. Indeed, the move reeks of desperation. Bayern's other targets, Wirtz, Williams and Barcola are all significantly younger than Díaz. Furthermore, in Paul Wanner, Bayern has one of Germany's biggest talents already under contract. In the short term, though, Díaz will be a star in the Bundesliga and add some much-needed goalscoring depth to the Bayern squad. According to FBREF, Díaz ranked in the 97th percentile among positional peers in non-penalty goalscoring. With Jamal Musiala out long-term and Sané gone, those goals will be needed. But how sustainable will it be in the long term? Bayern is about to find out.
