The signing could cost an additional 45 million euros depending on performance incentives in his contract.
LISBON, Portugal (AP) — Benfica is selling 18-year-old midfielder Renato Sanches to Bayern Munich for 35 million euros ($40 million), with the Bundesliga champion possibly spending an additional 45 million euros depending on performances.
The Portuguese club said in a statement to the Lisbon stock exchange on Tuesday that Sanches' contract and agreement on meeting unspecified performance targets runs through June 2021. Sanches came through Benfica's junior ranks, and made his first-team debut in the Portuguese league last October. He has 59 appearances, two goals, and earned broad acclaim.
He made his Portugal debut in March, and has two caps. He's a chance to be in the Portugal squad for the European Championship next month.
Bayern said in a statement on its website that Sanches "rates as one of the most talented young players in European football" and that there was "big-name international competition" to sign him. It said he passed a medical in Munich on Monday.
Bayern chairman Karl-Heinz Rummenigge said the club had been following Sanches for a long time.
"Renato is dynamic, a good tackler and a technically skilled midfielder who'll add even more strength to our team," he said.