Liverpool and Bayern Munich came to a transfer agreement for Luis Diaz, who was unveiled in Germany this week after an $88 million (£66 million) Bundesliga switch.

Arne Slot believes Liverpool have conducted “great business” by selling Luis Díaz to Bayern Munich in a bid to offset their summer spending. The Reds have splashed £295 million ($390.3 million) on transfers this summer, with blockbuster moves for Florian Wirtz and Hugo Ekitiké draining the club’s funds.

Bayern Munich CEO Jan-Christian Dreesen has thanked Liverpool for the way they conducted themselves during the negotiations that resulted in Luis Diaz moving to the Allianz Arena. The Colombia international brought his three-and-a-half-year stay at Anfield to an end when he joined the German giants earlier this week.