Bayern Munich CEO Karl-Heinz Rummenigge has insisted that the German champions will not be in the running to sign Bayer Leverkusen attacker Kai Havertz this summer.

Havertz has been in impressive form for Leverkusen during the 2019-20 campaign, scoring 16 times and contributing nine assists in 42 appearances in all competitions.

Bayern were thought to be firmly in the race for the Germany international alongside Chelsea.

However, Rummenigge has revealed that the Bundesliga giants cannot afford to sign the 21-year-old ahead of the 2020-21 season, having already agreed to sign Leroy Sane from Manchester City.

"We have a really big financial challenge ahead of us. Even if we wanted the player, we could not finance it this year," Rummenigge told Bild.

Havertz has also been linked with Manchester United and Real Madrid as he prepares to leave Leverkusen during this summer's transfer window.