Bayern Munich on Wednesday signed forward Luis Diaz from Premier League champions Liverpool for a fee that could reportedly rise to 75 million euros ($86.5 million).
The Colombian winger, who won the Premier League, FA Cup and two League Cups during his three-and-a-half years at Anfield, has signed a contract with the Bundesliga champions until 2029.
The fee paid for Diaz, which includes add-ons, is the third-highest in Bayern's history.
Diaz, 28, said in a statement on the club's website that he was he was "very happy" to be joining the 34-time German champions.
"It means a lot to me to be part of FC Bayern," he said. "They're one of the biggest clubs in the world. I want to help my new team with my way of playing football and my character.
"My goal is to win every possible title, and that's what we'll work for every day as a team."
Writing on Instagram, Diaz said he would "treasure forever" his time at Liverpool, adding he was "proud of everything we achieved together".
He mentioned his late teammate Diogo Jota, who died in a car crash in Spain earlier this month.
"I carry everyone with me in my heart, but one of them in particular: Diogo (Jota). I will never forget him. We will never forget him. Thank you for everything."
Luis Díaz in Munich 🔴⚪️#UCL pic.twitter.com/knyf3lWCAB
— Uefa Champions League (@ChampionsLeague) July 30, 2025
Portugal forward Jota showed his support for Diaz when the Colombian's father was kidnapped in October 2023, holding up a shirt bearing his teammate's name after scoring a goal.
Diaz's father was snatched by rebels in his hometown of Barrancas and held hostage for 12 days, before being released unharmed.
The winger made 50 appearances in all competitions for Liverpool last season, scoring 17 goals and providing eight assists as Arne Slot's team clinched the English league title for a record-equalling 20th time.
Diaz, who arrived at Anfield from Porto in January 2022, was the club's second-leading goalscorer in the Premier League behind Mohamed Salah, scoring 13 times.
His arrival gives Bayern a quality replacement for Germany forward Jamal Musiala, who has been ruled out for a "long period" after he suffered a broken leg at the recent Club World Cup.
Lucho is here! 🔴⚪️
— FC Bayern (@FCBayernEN) July 30, 2025
FC Bayern sign Luis Díaz. ✍️
🔗 https://t.co/pFoss6k3zd#MiaSanMia #ServusLuis pic.twitter.com/ND0AutmmUt
Bayern needed extra firepower after veteran Thomas Mueller left the club and Leroy Sane moved to Galatasaray.
"Luis creates a real goal threat and is a scorer, who at the same time works incredibly hard for his team," said Bayern sporting director Christoph Freund.
"He's quick, a versatile footballer and brings an intense style of play to the game. He's also gained a lot of experience at the top level with Liverpool and the Colombian national team. Luis Diaz represents a complete package that will thrill our fans."
The only two bigger transfer fees paid by Bayern were 95 million euros for England captain Harry Kane in 2023 and 80 million for French international Lucas Hernandez in 2019.
Diaz will train with his new teammates and coach Vincent Kompany for the first time in Munich on Wednesday and could face French side Lyon in a friendly this weekend.