The 19-year-old midfielder endured a testing 2016-17 campaign, on the back of a high-profile move to Germany.
Considered to be one of the hottest prospects in world football, the youngster struggled to justify a €35 million price tag as he was restricted to just 25 appearances in all competitions.
Sanches has apologised for his actions and sought to assure those who have been quick to criticise him that he will strive to prove his professionalism and humility in the future.
He posted on Facebook: "There are tasty and tasteless jokes. Because of the video released today, I must apologise not only for the bad taste, but also for the unpardonable and ill-considered behaviour. It is not even an excuse that the whole thing happened in a small circle of friends and during the holidays.
"Through my background, I have learned to appreciate the work we have earned and I can only confirm that my action was totally wrong. I guarantee that I am not like that, I will always fight on to be an example of professionalism, humility, character and dignity.
"It will serve me as a lesson for the future!"
After struggling for regular game time at Bayern, Sanches has been linked with Manchester United and Monaco of late – with the summer transfer window now officially open.