Rummenigge admitted that talks between Alcantara and sporting director Hasan Salihamidzic over a new deal have broken down because the former Barcelona player has decided to move on.
"The talks Hasan (Salihamidzic) had with him have always been very productive. And at some point it actually seemed that [a new contract] was done," said Rummenigge
"But then Thiago told Hasan some time ago that he would like to try something new at the end of his career. We have to accept that."
Alcantara has one year left on his current deal but Rummenigge says they will only allow the midfielder to depart on their terms and will not be forced into a quick sale.
"We have a contract with Thiago that is still valid for one year and if he reaches an agreement with any club then that club should pay a transfer fee of a certain amount," Rummenigge said.
"No club has contacted us to date and wants to have concrete discussions with us.
"We will only starting negotiating for their (Thiago and Alaba's) sale from a certain amount. There will be no summer sales at FC Bayern.''
"In Germany they are saying that if Liverpool buy Thiago, they'll win every game next year! He's just been so good. If there's one player they're missing in that midfield it's that technical player. More of a creator and a dribbler... somebody who scores spectacular goals and can find a pass. It's not a player that Liverpool have accommodated in recent years and it would change the dynamic of their midfield if you find space for him.
"But in terms of real quality, technique and unique skills any club in the world should be in for him. If Liverpool get him in the summer when the traditional powerhouses on the continent can't do it, the deal would be an absolute steal for the kind of money Bayern are talking about - £25m.
"He's only got a year left on his contract, but for a player who's going to be at his peak for another two or three years, that is a bargain in my book. Whoever gets him is getting an absolute diamond."
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