Nobody has been quite sure what the future held for Pierre Højbjerg after an impressive Rückrunde loan with Augsburg. Højbjerg has stated that he would be "comfortable" in either place for the upcoming season. Augsburg expressed their interest in extending the loan for the upcoming season; however, it doesn't look like that will be the case.
Kicker is now reporting that Højbjerg will be returning to Munich this summer and will play for Bayern in the upcoming season. They cite a meeting between Højbjerg's agent Sören Lerby and Bayern Technical Director Michael Reschke. They two decided that he would return to Bayern this summer, and Pep Guardiola was in full agreement. They quote Højbjerg as saying "I'm happy to be back.".
Recent rumors suggested that Bayern were considering a swap involving Højbjerg and Borussia Dortmund's İlkay Gündoğan. However, after Gündoğan's poor performance in BVB's Pokal Final loss to Wolfsburg, they have no reportedly passed on the idea of Gündoğan in Munich.
However, just because Højbjerg is reportedly "returning" to Munich does not mean that he will even suit up one time for Bayern in the upcoming season. He is contracted through 2018, so Bayern should definitely maintain an "all options on the table" approach toward the upcoming season. This will likely be one of those decisions that are made late in August after Pep Guardiola truly has a chance to assess the team in the preseason.