Renato Sanches will join Swansea on a season-long loan from Bayern Munich, Karl Heinz-Rummenigge has confirmed.
The 20-year-old midfielder moved to Bayern Munich last season for a reported €35m fee from Benfica.
But after a disappointing debut season, the club's CEO told Kicker that the Portugal international will join former Bayern assistant Paul Clement in Wales for the coming campaign.
"We wanted Renato Sanches to join a club, where he is able to play on a high level and where he has a coach, which wants him;" Rummenigge said.
"Renato has to play continuously for a year, and that's not guaranteed given the quality in our squad."
Kicker reports Swansea will pay a fee of €8.5 million for the loan, but will not have an option to buy Sanches at the end of the season.
Sanches came to prominence by playing a major role in Portugal's triumph at Euro 2016. However, he struggled for playing time in his debut season for the Bundesliga champions, making just six starts in the Bundesliga.
Rumors of a summer loan followed, with Sanches linked heavily with A.C. Milan but also Premier League sides during the window.
But he will instead land at Swansea, who narrowly avoided relegation last season after hiring Clement in December 2016.
Sanches worked with Clement during the latter's time as assistant coach at Bayern before leaving to manage Swansea towards the end of 2016.
Clement has worked under Bayern boss Carlo Ancelotti multiple times in the past, including at Real Madrid.
The Swans have begun the Premier League season with a win, draw and loss in three games thus far.