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Bayern Munich chairman Karl-Heinz Rummenigge says the German champions have ended their interest in signing Arsenal striker Alexis Sanchez this summer.
Bayern and Manchester City were front-runners to sign the Chile international, who has one year left on his Arsenal contract and is stalling on signing a new deal.
But Bayern are no longer in the market for a new forward, following the loan signing of Colombia striker James Rodriquez from Real Madrid, and permanent deals for ex-Arsenal winger Serge Gnabry and Juventus' Kingsley Coman.
"We are no longer involved. We have agreed with our coach that we won't add in attack. It wouldn't make any sense," Rummenigge told German magazine Kicker.
Bayern and Arsenal will meet on Wednesday at the Shanghai Stadium in the International Champions Cup pre-season tournament.
In other Gunners' news, Polish goalkeeper Wojciech Szczesny is set to join Juventus in a £10m deal this week.
The 27-year-old, who has spent the last two seasons at Roma, is expected to act as Gianluigi Buffon's back-up next season.
The Italy goalkeeper, 39, intends to keep playing until at least the 2018 World Cup in Russia.
Image: Getty Images/Lawrence Griffiths
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