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Update on the Transfer Market in Europe

Bayern fires Magath, brings back Hitzfeld
Bayern Munich fired coach Felix Magath on Wednesday and brought back his predecessor Ottmar Hitzfeld, who guided the club to the Champions League title in 2001.

Ronaldo bids farewell to Madrid, heads to AC Milan
The World Cup's all-time leading scorer left Madrid for AC Milan on Tuesday, returning to Italy's Serie A for a reported $9.73 million transfer fee. The 30-year-old Brazil striker will join Milan until 2008 -- the same length as the remainder of his contract at Madrid.
Ronaldo had agreed to terms with Milan last week and passed a medical test on Friday. Milan striker Ricardo Oliveira reportedly will move to Madrid on loan as part of the deal.

United concern over Hargreaves chase after Bayern change

Manchester United manager Alex Ferguson conceded on Friday that the change of management at Bayern Munich could muddy the waters in his chase for Bayern midfielder Owen Hargreaves. The league leaders were unable to strike a deal to bring the England international to Old Trafford during the January transfer window.
United are likely to try again in the summer but with Felix Magath being replaced by Ottmar Hitzfeld as coach of the Bundesliga side the prospects of a transfer could change.

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