Bayern Munich turned down an extremely lucrative offer for Thomas Muller this summer, according to president Karl-Heinz Rummenigge.

Manchester United and Real Madrid were among the clubs linked with the striker, who has scored five goals in three Bundesliga matches this season.

But the German champions refused to sell the 25-year-old, even though there was apparently a hefty sum on the table.

More from FoxSports

"I'm talking about figures which were very high indeed," said Rummenigge. "If I were a bank manager then I would have had to accept it.

"But as a football club we allowed ourselves to close the door on it, and this door is remaining closed. I can promise that to everybody.

"But one thing is for certain, in view of the increased television money in England things are not going to get any easier for Bayern in future."

That influx of money from next season is set to make the Premier League even more enticing when it comes to signing the top players in future.

However, Rummenigge has praised English clubs for the way they are being run, saying their potential success is not going to be down to money alone but rather how they have invested it.

"I've taken a look at Manchester City's youth academy and all I can say is it doesn't get any better than that," Rummenigge told the Suddeutsche Zeitung newspaper.

"I have also visited Tottenham's, Arsenal's and Chelsea's and it's the same wherever you go.

"I can tell you that the English are going all out, also in terms of youth development."