Bayern completes Martinez deal

The 23-year-old underwent a medical on Wednesday morning and has been handed the number eight shirt after agreeing a transfer worth 40 million euros ($48.58 million).

Reports of Martinez's imminent move surfaced in the media earlier in the day, but Athletic claimed it had not given the player permission to travel to Munich.

However, a statement on Bayern's website, www.fcb.de, later read: "The Spanish international has terminated his contract with the Basque club...and signed a five-year contract with the record German champions until June 30, 2017."

Martinez has been linked with the Bundesliga club throughout the northern summer and is relieved the deal has finally been completed.

"I am very happy and looking forward to playing for a club with such a history," said the Spain international.

"I've had a very long wait but finally that wait is over.

"Bayern are one of the best teams in Europe and throughout the world. There are so many top players here who play fantastic football - that's a big motivation for me.

"And, of course I want to win the title."

Bayern chairman Karl-Heinze Rummenigge, meanwhile, defended the amount of money paid out for Martinez.

"Of course this is a large sum," he said, "but the player plays an indirect part in it by giving up a large chunk of his salary.

"Whether he will be in the squad at the weekend (against Stuttgart) is something the coach will decide.

"However, he has demonstrated in recent days the fact he is a strong personality, and he has already shown a remarkable affinity with Bayern."