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Liverpool will miss out on a whopping £23million as a result of Philippe Coutinho joining Bayern Munich on loan from Barcelona.

Liverpool received £105million up front for the sale of the Brazil international, with an additional £37million set to be paid in installments.

The Reds have so far made an additional £14million from Barcelona through appearance and performance bonuses being triggered.

But, according to Spanish publication Sport, Liverpool were due an additional £18million when Coutinho played 100 games for Barcelona and £5million if the Catalan club won the Champions League with the Brazilian in the side.

In moving on loan to Bayern Munich for the season Coutinho has ended Liverpool's chances of receiving this money, at least for the time being.

(Image: Bayern Munich /Twitter)

The German giants have splashed out £7.7million for the temporary use of Coutinho this campaign. They will also pay his extortionate wages for the duration of the loan spell.

"For me, this move means a new challenge in a new country with one of the best clubs in Europe. I'm very much looking forward to that", Coutinho said, upon signing.

"I have big ambitions and I'm convinced that I can achieve them together with my new team-mates."

(Image: Bayern Munich /Twitter)

Bayern CEO Karl-Heinz Rummenigge added: "We've been working on bringing in Philippe Coutinho for quite some time and we're very happy that we've been able to complete this transfer.

"My thanks go especially to Barcelona President Josep Bartomeu, with whom I have a very good and friendly relationship. Coutinho is a global star and our fans will be delighted."