Diaz was already in Bayern's shortlist on the left flank following the departures of Leroy Sane and Thomas Muller. Although the Bavarians had to pay a premium to lure the 28-year-old out of Merseyside, they have secured a quality winger to aid the likes of Harry Kane, Michael Olise, and Jamal Musiala.

They earned £174.9 million in prize money for winning the Premier League last term and it was reported that the Merseyside giants have benefitted from FSG's decision to renew the £350m revolving credit facility which was due to expire this month.