Bayern Munich have signed Real Madrid forward James Rodriguez on a two-year loan deal with the option to buy.

The 25-year-old, who signed a six-year contract at Real when he joined from Monaco for £71m in July 2014, made just 22 appearances in La Liga last season.

"Signing James Rodríguez was our coach Carlo Ancelotti's biggest wish," said Bayern chairman Karl-Heinz Rummenigge.

"We're delighted we've been able to complete this transfer."

"James is a very versatile player. He's a goalscorer himself, he sets up a lot of goals and on top of that he's great from set-pieces," continued Rummenigge.

"There's no question that this transfer further increases the quality in our team."