PHILIPPE COUTINHO has agreed to take a colossal pay cut of over 70 per cent in order to join Aston Villa, according to reports.
He had been earning an incredible £480,000-a-week at Barcelona – Villa had paid him £120,000 a week during his loan spell.
Coutinho, 29, has been on loan at Villa from Barcelona since January and scored four goals.
But a permanent deal was announced by the club’s chief executive Christian Purslow at Villa’s end of season awards dinner.
Villa had a £33million option to buy inserted in the loan move – but appear to have done a permanent deal for far less.
And around £125MILLION below what Barca paid Liverpool for him in 2018.
Coutinho said: “I’m really happy and excited about the future.
“I’ve been made to feel welcome since day one, I believe in this squad and think they can achieve really good things next year.”
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Gerrard played a major role in bringing the playmaker in and said: “This is a brilliant signing for Aston Villa.
“Phil is a model professional and his impact on the group has been very clear since he joined in January.
“With the way he conducts himself on and off the pitch, he’s also a valuable role model for our younger players who can only benefit from his experience.
“As we look to build towards next season, it’s incredible to work at a club that executes its business so decisively and smoothly.”
Barcelona have confirmed the deal includes a 50 per cent sell-on clause.
Coutinho moved to the Now Camp from Liverpool in 2018 in a deal worth £146million – but despite helping the Spanish club to two league titles, he spent the 2019-20 season on loan at Bayern Munich.