Reports: Bayern agrees deal for Schalke's Neuer

Published May. 12, 2011 2:36 p.m. ET

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Bayern Munich has reached a deal worth up to €25 million ($36 million) with Bundesliga rival Schalke for goalkeeper Manuel Neuer, German media reported Thursday.

Kicker magazine said in its Thursday edition that Bayern had agreed to pay €18 million ($26 million) up front for the German international.

Bayern would pay a further €3 million ($4.3 million) for the 25-year-old if it wins the Bundesliga title, and another €4 million ($5.7 million) if it wins the Champions League.

The club hopes to officially present the player, who has one year left on his Schalke contract, between May 23 and 26.

Bayern chairman Karl-Heinz Rummenigge told Munich's TZ newspaper that he was ''cautiously optimistic'' a price had been agreed.

''I've always said it wouldn't be easy to settle on a price acceptable to both sides at the end,'' Rummenigge said.

Bild newspaper reported Neuer agreed to a four-year contract worth over €6 million ($8.6 million) in wages per season.