Bayern Munich’s honorary president, Uli Hoeness, has delivered a scathing swipe at Newcastle over the signing of Nick Woltemade.

The Bundesliga champions were heavily interested in the German striker prior to his club-record £69million move to the Magpies.

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The transaction significantly surpassed the £63 million that Newcastle paid for Alexander Isak back in 2022, who notably set a British transfer record with his £125 million transfer to Liverpool on deadline day.

The arrival of Woltemade ended Eddie Howe’s summer-long hunt for a striker after missing out on multiple targets.

The 23-year-old appeared to be one of the names on that list, having been earmarked to stay in his homeland by joining Bayern Munich.

However, Vincent Kompany’s side failed to agree a fee with rivals Stuttgart, which opened the door for Newcastle to hijack the move.

Negotiations took a turn when Hoeness was displeased by Bayern legend Lothar Matthaus. Matthaus had apparently inflated Woltemade’s value by stating publicly that a fair price ranged between €80-100 million (£69-86 million), at a time when the Bavarians were offering considerably less.

The lower end of that estimation ultimately proved to be exactly what Stuttgart managed to extract from Newcastle.

During an interview with German TV channel SPORT1, Hoeness was asked about Matthaus’ correct prediction and replied: “He was just lucky.

“He [Woltemade] isn’t worth the €90million”, Bayern’s honorary president continued in a dig at Newcastle and their PIF owners.

“That only happened because of the money flowing from Saudi Arabia.”

The signing of Woltemade represented a huge coup for Newcastle, given Bayern saw three bids rejected for the 6ft 6ins forward.

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‘Bayern were prepared to go all in for him’

European football expert Andy Brassell was previously full of praise for Woltemade ahead of his arrival on Tyneside.

Last month on The Transfer Insiders, it was expressed: “He’s going to be a very significant addition, and it’s quite remarkable how they’ve managed to keep this under wraps since they often get outbid by other clubs.”

“Bayern was ready to push hard for him. Their interest was very clear. He was eager to join them, yet they couldn’t match the price Newcastle offered. His progress has been extraordinary, considering he joined on a free transfer from Werder Bremen, where he wasn’t a regular starter, and within less than a year at Stuttgart, he’s become this standout player.”

“If you’re searching for someone who could effectively fill Isak’s shoes and has great potential, there aren’t many players out there better suited than him.”

“He’s 6ft 6in, but he’s not your typical target man. He likes to drop and dribble.

“When Bayern wanted him, and Bayern were very keen, they thought he could play with Harry Kane.

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“Receiving such praise is quite rare, as he possesses impressive football intelligence. His ability to maintain possession and make continuous improvements is exceptional.”

‘Not ideal that the best German players are moving to England’

Woltemade began last season simply nicknamed ‘Big Nick’ due to his 6ft 6in frame, but ended it called the ‘Two Metre Messi’.

In 2023/24, he broke through at Werder Bremen, but only scored two goals in 30 games, and they both came in the same match.

Stuttgart saw enough to see him make the step up to a Champions League team, and were rewarded with 17 goals and a club-record sale.

While the opportunity to replace Isak at Newcastle is a huge one, Woltemade’s national team manager expressed his one big concern.

The striker followed Liverpool’s Florian Wirtz in surprisingly snubbing a move to Bayern for a Premier League transfer from the Bundesliga.

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Julian Nagelsmann said: “I’m happy when they play a lot of games and get a lot of minutes, that’s the most important thing for me.

“It’s not ideal for the German Bundesliga that the best German players are moving to England. But that’s how it is.

“It’s kind of normal at this period of time.”

Nagelsmann’s comments come in the wake of Germany’s shock 2-0 loss in Slovakia – their first ever World Cup qualifying away defeat.