Felix Magath took over and led Bayern to two consecutive doubles. Prior to the start of the 2005–06 season, Bayern moved from the Olympiastadion to the new Allianz Arena, which the club shares with TSV 1860 München. On the field their performance in 2006–07 was erratic. Trailing in the league and having lost to Alemannia Aachen in the cup yet again, coach Magath was sacked shortly after the winter break.
Hitzfeld returned as trainer in January 2007, but Bayern finished the 2006–07 season fourth, thus failing to qualify for the Champions League for the first time in more than a decade. Additional losses in the DFB-Pokal and the DFB-Ligapokal left the club with no honours for the season.
For the 2007–08 season, Bayern made drastic squad changes to help rebuild. They signed a total of eight new players and sold, released or loaned out nine of their players. Among new signings were 2006 World Cup stars such as Franck Ribéry, Miroslav Klose and Luca Toni. Bayern went on to win the Bundesliga, being on top of the standings on every single week of play, and the DFB-Pokal against Borussia Dortmund.
On 11 January 2008 Jürgen Klinsmann was named as Hitzfeld's successor, taking charge on 1 July 2008. He signed a two-year contract. Bayern Munich lost the DFL-Supercup 1–2 against Borussia Dortmund in 2008. Bayer Leverkusen eliminated Bayern in quarter-finals of the DFB-Pokal. In the Champions League Bayern also reached the quarter-finals after winning Group F and defeating Sporting Clube de Portugal in the first knockout round, achieving a Champions League record aggregate of 12–1. On 27 April, two days after a home defeat against Schalke which saw Bayern drop to the third place in the table, Klinsmann was fired. Former trainer Jupp Heynckes was named as caretaker until the end of the season. Bayern eventually finished second, thus qualifying directly for the Champions League in 2009–10.
Bayern then signed Dutch manager Louis van Gaal for the 2009–10 season. Multi-million signings of Arjen Robben and Mario Gómez also followed in a bid to return Bayern to the top of the European scene. On 8 May 2010, Bayern Munich won the 2009–10 Bundesliga after a 3–1 win at Hertha BSC. Bayern then won the DFB-Pokal on 15 May 2010 to secure the domestic double. Bayern also reached the 2010 UEFA Champions League Final but were beaten 2–0 by Internazionale, failing to become the first German club to complete the treble.
In the 2010–11 season, Bayern were eliminated in the first round of the Champions League knockout phase by Internazionale on the away goals rule and finished third in the Bundesliga. Van Gaal was fired by Bayern in April 2011.
In the 2011–12 season, Heynckes returned to coach Bayern for a second permanent spell but the team was to end the season without a trophy for the second season running. Domestically they finished second in the Bundesliga and lost the DFB-Pokal final 2–5, both times finishing runner-up to Borussia Dortmund. They also reached the final of the Champions League in their home stadium, but lost to Chelsea on penalties (3–4), in what was only their second defeat to an English team in Munich, and their first at the Allianz Arena.
In the 2012–13 season, Bayern won the 2012 DFL-Supercup 2–1 against rivals Borussia Dortmund. FC Bayern became the first team in history to win their first eight matches in the Bundesliga after their 5–0 away win to Fortuna Düsseldorf. On 6 April 2013, Bayern won the 2012–13 Bundesliga after a 1–0 win at Eintracht Frankfurt with six games left, setting a new record for being the earliest ever Bundesliga winners. Other Bundesliga records set by Bayern in the 2012–13 season include most points in a season (91), highest league winning points margin (25), most wins in a season (29) and fewest goals conceded in a season (18). Bayern also equaled the record for fewest defeats in a season, losing once to Bayer 04 Leverkusen. Bayern also reached the Champions League final for the third time in four seasons, winning the club's fifth European Cup with a 2–1 defeat of domestic rivals Borussia Dortmund at Wembley Stadium. On 1 June 2013, Bayern beat VfB Stuttgart 3–2 in the 2013 DFB-Pokal Final to become the first German club in men's football to complete the treble; Bayern had missed out on trebles in 1999 and 2010.
On 1 July 2013, Pep Guardiola took over as manager ahead of the 2013–14 season. Bayern also completed the signing of Mario Götze from Borussia Dortmund for €37m, who became the most expensive German player in history (this was later surpassed by Mesut Özil's transfer from Real Madrid to Arsenal for €50m). On 24 July 2013, it was reported that Bayern had become the first German club with over 200,000 members. On 27 July 2013, Bayern Munich lost against rivals Borussia Dortmund 2–4 in the 2013 DFL-Supercup at Signal Iduna Park. On 30 August 2013, Bayern won the UEFA Super Cup against Chelsea. On 9 November 2013, Bayern set a new record for most successive Bundesliga matches without defeat, breaking Hamburger SV's thirty-year-old record of 36 matches. This record was eventually extended to 53 matches, before Bayern lost 1–0 to FC Augsburg in April 2014. On 27 November 2013, Bayern became the first team to win ten consecutive Champions League matches with a 3–1 away victory over CSKA Moscow. On 21 December 2013, Bayern beat Raja Casablanca 2–0 at the Stade de Marrakech to win the 2013 FIFA Club World Cup.
On 25 March 2014, Bayern won their 23rd Bundesliga title by beating Hertha BSC 3–1 at the Olympiastadion in Berlin. With seven matches remaining in the season, it was the earliest the championship had been won in Bundesliga history, breaking the record Bayern had set in the previous season. On 17 May 2014, Bayern beat Borussia Dortmund 2–0 in the 2014 DFB-Pokal Final to give the club the tenth league and cup double in its history.
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