Gergiev has enjoyed a long guest conducting relationship with the Bavarians, so presumably both sides know what they're getting - which is in the orchestra's case means sharing their boss with the Mariinsky and the LSO, neither of which Gergiev has displayed any intention of abandoning.
The appointment is subject to a city council vote, which is expected to be a formality.
Lorin Maazel will continue temping in Munich, as he has done since Christian Thielemann's departure in 2011.

