Serge Gnabry to stay at Bayern Munich

Chelsea and Arsenal target Serge Gnabry will not be moving back to England this summer, after the German international finally agreed on a new contract with Bayern Munich. Gnabry will sign a three year extension to his current deal, worth a reported 240,000 euros per week.

The news ends speculation over Gnabry's next location, as the former Arsenal forward has apparently decided to continue his stay in the Bundesliga.

Gnabry, who scored one Premier League goal for Arsenal, came through the ranks at the Emirates under former manager Arsene Wenger, before moving back to his homeland.

The winger is now one of the most in demand players in Europe, and Bayern will be looking forward to pairing Gnabry with new arrival Sadio Mane at the club next season.

The German giants are hopeful that their new look attack will secure the coveted top prize of the Champions League.

It is understood that Bayern Munich's business in the transfer window is not yet done, with more new faces expected to arrive in the coming few weeks.