Bayern have officially won the race for Philippe Coutinho.
The Brazilian forward signed for Barcelona in a £142 million deal just last year.
But he quickly fell out of favour at his dream club after a series of disappointing performances.
Coutinho was being offered to Premier League clubs earlier on in the window and Tottenham were believed to have made a move, only for Coutinho to turn them down.
It looked as if he would stay with Spain until reports emerged last week stating that Bayern and Barcelona had reached an agreement over his transfer.
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Coutinho undertook his medical at the club on Sunday and now Bayern have officially announced the deal.
Bayern will pay Barcelona €8.5 million for the season and will take on the entirety of his €13m-per-year wages.
The German club will also have the option to sign Coutinho on a permanent basis for €120 million.
He has taken the number 10 shirt which was recently vacated by the departing Arjen Robben.
Watch Bayern's announcement video below:
Coutinho expressed his excitement at joining the German club.
"For me, this change represents a new challenge in a new country at one of the best clubs in Europe," he said.
"I am really looking forward to this. I have big goals like Bayern, and I'm sure I can do it with my new team-mates."
Bayern's CEO Karl-Heinz Rummenigge commented: "We have been working with Philippe Coutinho for some time and are very happy that we were able to realise this transfer now.
"Our thanks to FC Barcelona for agreeing to this transfer. In Philippe, a player comes to FC Bayern, who will strengthen our offensive with his creativity and excellent technique."
In total, Coutinho scored just 21 times in 76 appearances for Barcelona.
Despite his stint in Spain being a failure, former Liverpool teammate Marko Grujic is adamant he will be a success in Germany.
Grujic, who plays in the Bundesliga for Hertha Berlin, told Bild: "It's a big deal for the whole Bundesliga that we now have the opportunity to see Coutinho.
"He is a special, exciting player, capable of crazy things. He has incredible tricks and skills. I enjoyed every training session with him.
"He will be the best footballer in Germany by far.”
Barcelona now have two weeks to replace Coutinho.
They have been linked with a move for Neymar, but it is unknown whether they will able to convince Paris Saint-Germain to sell their prized asset.News Now - Sport News