Club CEO Karl-Heinz Rummenigge said he was pleasantly surprised by how new Bayern Munich addition Renato Sanches performed at Euro 2016, while adding they might not have been able to afford him after his displays in France.

Sanches, 18, was purchased by Bayern from Benfica ahead of the Euro in France for an initial €35 million, a fee that could rise as high as €45m based on performance bonuses.

Following that, Sanches went on to play a significant role in helping Portugal win the Euro title, becoming the youngest player to play for his country's national team -- a record previously held by Cristiano Ronaldo -- and the youngest player to feature in a European Championship final in the 1-0 win versus hosts France.

Renato Sanches' fee would have been out of Bayern's price range after the Euro, according to CEO Rummenigge. AP Photo/Laurent Cipriani

Rummenigge told Soester Anzeiger: "Was I surprised by Renato Sanches' performances at Euro 2016? Yes and no.

"It's extraordinary when someone plays at the Euros like he did at the tender age of 18. I was nowhere near that level at the age of 18. But then again, he does seem to have extraordinary talents.

"We are happy that we made the decision to sign him quite early, after the Champions League quarterfinal tie against Benfica. And we are very happy that we had the courage to spend big on him in April because €35m is a lot of money.

"Bayern would not have been able to afford him had we tried to sign him after the Euros. We would be talking about crazy money now. And he would definitely not be playing in the Bundesliga next term then."