Bayern Munich are waiting for the first major European transfer in order to spring into action and boost their squad ahead of the new season, club CEO Karl-Heinz Rummenigge said.

Bayern have signed France world champions Benjamin Pavard and Lucas Hernandez but fans want more new players so they can challenge Europe's top clubs in the Champions League which the German side last won in 2013.

"Today is July 8. I know that patience is not one of the major virtues of fans or the public," Rummenigge told reporters at the official presentation of defender Hernandez.

"The transfer market is open until Sept. 2. We are still ready to bring in what is called a top player. Until now there has not been the one big transfer which would act as a domino effect," Rummenigge said.

Bayern won the German league and Cup double last season but did not get past the Champions League round of 16.

"We are waiting, all the clubs are waiting for the first big transfer. Because that will then trigger more big transfers. We are well positioned and patient."

Bayern kick off their Bundesliga season on 16 August against Hertha Berlin.

"I understand people expect big transfer from Bayern. But I am not nervous at all. There are still two months to go," Rummenigge said.

"We will have a team that will be very competitive. Our targets will not be fewer. Do not think we will not have a team that can win an eighth league title and do big things in the other competitions."