Sanches arrived at the Allianz Arena with massive expectation in a deal that was reported to reach €80m (R1.24b) based on future clauses.
After winning the domestic double with Benfica and playing an integral role in Portugal's maiden Euro success, the 20-year-old's career has declined.
With no goals or assists for the Bavarian giants in his first season and the same outcome in the season long-loan with Swansea City in the Premier League.
However, under the guidance of new head coach Niko Kovac, the club and player have been enthused by a fresh start to kick-start his career.
Niko Kovac (Bayern head coach): "There is no question that he has qualities, he showed that before and that's why Bayern signed him. I'm excited to work with him, because he has qualities you don't see very often in the Bundesliga."
Karl-Heinz Rummenigge (Bayern CEO): "He's had a couple of tough years, but we were absolutely convinced of his qualities two years ago and we're not going to give up on him now."
Sanches scored Bayern's second goal with a stunning free-kick as the Bundesliga champions ran out 3-1 winners in Klagenfurt, Austria against Paris Saint-Germain.
And after the game, Kovac was left impressed by his impact against the Ligue 1 champions.
"It's not easy for young players from abroad - you have to take that into consideration. He certainly hasn't forgotten how to play football," he said.
"He's not a difficult lad, but he needs affection and support from all sides. Footballers need recognition and to be given confidence just like the rest of us."