Philippe Coutinho set to join Bayern Munich

Bundesliga champions Bayern Munich have signed Barcelona midfielder Philippe Coutinho on loan for the season, the two clubs confirmed on Monday.

Bayern will pay a loan fee of 8.5 millioneuros ($9.44 million) and pay his wages. They have the option of making thedeal permanent for a fee of 120 million Euros.

Coutinho, who joined Barcelona in January last year for approximately 142 million pounds ($172.25 million), was the third most expensive transfer in history but he failed to hit the same heights at the Camp Nou as he did with Liverpool.

Coutinho will wear the number 10 shirt previously worn by DutchmanArjen Robben, who retired at the end of last season.

"We've been working on bringing in Philippe Coutinho forquite some time and we're very happy that we've been able to complete thistransfer," Bayern CEO Karl-Heinz Rummenigge said.

"Our thanks go to FC Barcelona for agreeing to the transfer.With his creativity and outstanding skills, Philippe is a player who willimmediately strengthen our attack."

Bayern, who drew their first league game 2-2 with Hertha Berlinlast weekend, play away at Schalke on Saturday.