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Bayern Munich miss out on chance to buy Philippe Coutinho permanently but may sign him on loan again

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Bayern Munich will not trigger the clause to sign Philippe Coutinho permanently for £70million but are open to extending his loan period says the club's chairman Karl-Heinz Rummenigge.

Rummenigge has confirmed that the option to buy Coutinho has now expired and that he has not done enough in the Bundesliga to convince the league leaders to make his move permanent.

According to the Mirror, the 27-year-old Brazilian could return to the Allianz Arena next season on loan if the Bayern Munich chiefs believe he still has a 'role to play' within the team.

After falling down the pecking order towards the end of the season, Coutinho hopes another loan spell will help him rediscover his form.

Chelsea are leading the transfer race to sign Coutinho and are said to be close to agreeing a deal to bring him back to the Premier League.

Chelsea boss Frank Lampard views Coutinho as the calibre of player that will take the club to the next level and challenge the likes of Liverpool and Manchester City for the Premier League title next season.

Coutinho could be available for £79m - £66m less than the £145m paid to Liverpool - but, given Barca's urgency to raise funds to buy Inter Milan's Lautaro Martinez, Chelsea could get that total even lower.

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