Ribery has been linked with a good number of European powerhouses this summer, including Los Merengues who have adopted a free-spending policy since the re-appointment of Florentino Perez as chairman last month.

Beckenbauer reiterated that the France ace would stay at Allianz Arena at least for another season, and hit out at Perez for his extravagance.

"These sums of money are ridiculous. But there is always some lunatic who walks around throwing money away," Beckenbauer told German newspaper Passauer Neue Presse.

"No decision will be made until August, when the transfer window closes."

Insanity

Beckenbauer is convinced that the footballers' transfers have to be regulated, describing the current situation as 'insanity'.

"Everyone knows something has to be done about salaries," he added.

"I don't think a salary cap would work. But I am sure something will happen soon.

"What is happening is insanity, especially in a time of financial crisis when many people are fearing for their jobs, and their existence."