Goalkeeper Sven Ulreich has rejoined Bayern Munich as an understudy to Germany captain Manuel Neuer, with Alexander Nübel leaving on loan to Monaco.
“It was Alexander's wish to gain match practice. We supported that. However, the condition was that we could sign a serious back-up," said Bayern sporting director Hasan Salihamidzic.
"We’re pleased we could reach an agreement with Sven. This combined situation is very appealing. It helps everyone involved and fits within our financial framework because Sven returns on a free. FC Bayern continues to plan for the future with Alexander Nübel.”
Ulreich, who made 32 second-tier appearances for HSV in the 2020/21 campaign, first linked up with Bayern after leaving VfB Stuttgart in the summer of 2015. He played a major role in Bayern's league win in 2017/18, featuring 29 times after Neuer missed most of the season with a foot injury.
Nübel made four appearances in all competitions in 2020/21 - his first season in Munich - but the former Germany U21 international is now set to spend the next two seasons working under ex-Bayern boss Niko Kovac in the French top flight.
Bayern will begin their quest for a record-extending 10th consecutive Bundesliga title when they travel to face Borussia Mönchengladbach on 13 August.