Bayern Munich supervisory board member Karl-Heinz Rummenigge has called Newcastle United "idiots" after they agreed to pay €85m to sign Nick Voltemade from Stuttgart.
Bayern tried to sign Voltemade several times this summer and sent several offers, the last of around 60 million euros, but Stuttgart refused to sell their player for less than 75 million.
When it seemed that the 23-year-old footballer would remain in Germany, Newcastle agreed to pay 85 million euros and bonuses.
"I can only congratulate Stuttgart for finding, so to speak, an idiot who would pay that much money, since we certainly wouldn't do it. I said: We have reached a point where it is no longer acceptable. We should not meet all their demands," Rummenigge told German media, as reported by the website Gol.
He added that the transfer showed how far the Premier League had come financially, leaving Bundesliga clubs powerless to match their spending power.
The German football legend blamed players and their agents for introducing a change in the transfer dynamic.
"Players and their agents have to be careful not to fall into their own trap. The money has to come from somewhere, and that comes from expanding competitions or establishing new ones," Rummenigge said.
Bayern offered €100 million for Bayer midfielder Florian Wirz this summer, but the Leverkusen club rejected the offer and accepted €125 million from Liverpool, a record transfer in British football.
Rummenigge said these transfers show that clubs owned by billionaires or states are distorting the market and stated that football must not be the only industry in the world that loses money.
He said he was concerned about the Bundesliga and that clubs and players should talk before it's too late.
"We should sit down at the table and then have a serious discussion about what we can do together. It's not like someone will immediately run to the European Court of Justice in Luxembourg after the meeting and sue," Rummenigge said.
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