Real Madrid playmaker James Rodriguez has signed for Bayern Munich on a two-year loan deal – in a move that reunites him with Italian manager Carlo Ancelotti.

Rodriguez will have a medical with the German giants before completing his move to the Allianz Arena – in a deal which could cost up to £40million.

The Colombia international has been desperate to leave Real Madrid after falling out of favour with Zinedine Zidane at the Bernabeu.

He was linked with a summer move to both Premier League champions Chelsea as well as Manchester United.

He will be a member of the Bayern squad that sets off on Sunday evening for their pre-season 12-day Audi Summer Tour to China and Singapore.

“We are very happy that we were able to implement this transfer,” said Bayern chairman Karl-Heinz Rummenigge.

“The commitment of James Rodríguez was the great wish of our coach, Carlo Ancelotti, after both had already successfully worked together in Madrid

“James is a versatile player. With this transfer, we have been able to raise the quality of our team without question.”