Philippe Coutinho has joined Bayern Munich on loan from Barcelona with the option of a permanent transfer next summer for €120 million.
Bayern will pay Coutinho's full salary for the duration of the loan deal, which will cost them €8.5m.
- When does the transfer window close?
- Transfer grades: Tracking every big club's deals
- All major completed transfer deals
Upon completing the deal, Bayern's statement read: "All parties have agreed not to disclose any financial details of the agreement." However, Barcelona included details of the loan fee and price to make the deal permanent in their announcement.
"For me, this move means a new challenge in a new country with one of the best clubs in Europe," Coutinho said after completing the move. "I'm very much looking forward to that. Like FC Bayern, I have big ambitions and I'm convinced that I can achieve them together with my new teammates."
Speaking later at his presentation he added: "At Barcelona, things did not quite work out as planned. But that's history now."
Meanwhile, Bayern president Karl-Heinz Rummenigge said: "We wanted to sign an absolute top player for FC Bayern and I'd like to think we did that.
"The €8.5 million is a friendship price," he added of the loan fee. "We've known the people at Barcelona for a long, long time. And Barcelona also did not want to prevent the transfer. The option to buy is indeed not that cheap."
Coutinho will wear the No. 10, most recently worn by Arjen Robben, and Rummenigge revealed the former Netherlands international gave the move his blessing after Bayern had planned to rest the number for one season.
"We wanted to show our fans how important this transfer is," Rummenigge said. "And that's why he gets the No. 10 jersey. [Sporting director Hasan Salihamidzic] showed him a No. 10 jersey on Wednesday [at the meeting].
"It was made for this occasion and it was important. Hasan was in touch with Arjen Robben this morning and Robben's just fine with it."
Coutinho signed for Barca for €120m plus €40m in add-ons in January 2018 after spending five years in the Premier League at Liverpool.
The 27-year-old scored 21 goals and provided 11 assists in 76 appearances for Barcelona in all competitions, winning two La Liga titles and one Copa del Rey.
The Brazil international's spell at the Catalan club has not always been a smooth one, however, with Barca fans failing to warm to the midfielder.
Coutinho will be more welcome in Germany, according to Bayern manager Niko Kovac.
"In my opinion, not only FC Bayern Munich, but also the entire Bundesliga and the whole of Germany can be delighted to be welcoming such a big-name player to our league," Kovac said.