Juventus have confirmed the signing of Douglas Costa from Bayern Munich on an initial one-year loan, with an option to sign him on a permanent transfer in 2018.

The Brazil international's loan deal will cost the Champions League finalists €6m (£5.3m, $6.8m). The deal also allows the Turin club to sign the winger on a permanent deal before 30 June 2018 for a fee of €40m (£35.4m, $45.4m).

A statement on Juventus' official website read, "Juventus Football Club S.p.A. announces that the agreement with FC Bayern München AG for the temporary acquisition, until 30 June 2018, of the registration rights of the player Douglas Costa de Souza has been finalised for a consideration of €6 million to be paid within seven days of the FIGC registration execution."

"The agreement also provides Juventus the option right, to be exercised before 30 June 2018, for the definitive acquisition of the player at a price of €40 million to be paid in two financial years. The consideration may increase by €1 million on achieving given conditions in the course of the duration of the contract."

Costa scored seven goals and registered six assists across all competitions for Carlo Ancelotti's side last term, and the 26-year-old is reportedly not a part of the former Real Madrid and Chelsea manager's plans at the Allianz Arena.

The Independent had earlier reported that the forward was being monitored by Spanish giants Barcelona and Jurgen Klopp's Liverpool, along with Juventus. The former Shakhtar Donetsk attacker eventually decided to join the Italian champions as he wanted to play at a club that is "used to winning every game."

"I am delighted to join Juventus and be part of this great club. I want to thank the club for all the effort they've put into signing me. I am really pleased to sign," Costa told Juventus' official website.

"I'd always dreamed of playing here. I'm delighted to be part of this club and can't wait to start training with my teammates.

"I just want to keep helping my teammates, like I did at Bayern Munich. We achieved a lot and I enjoyed my time there, but I think I can do even more at Juventus.

"I've just come from a club where you're used to winning every game you play so i'm going to continue with the mentality of trying to play as well as possible."

Juventus won the Scudetto and Coppa Italia last season, their third consecutive domestic double. Their chances of winning the treble, however, were ended by Real Madrid, who defeated them in the Champions League final.

Douglas Costa
Bayern Munich allow Douglas Costa to join Juventus Getty