Monchengladbach signs Hofmann from Borussia Dortmund

Borussia Monchengladbach has announced the signing of midfielder Jonas Hofmann from Bundesliga counterpart Borussia Dortmund.

Neither club disclosed the details of the transfer, but German magazine Kicker puts the fee at €8 million. The 23-year-old's new contract runs through June 2020.

(Courtesy: borussia_en)

"The addition of Jonas Hofmann will help compensate for the loss of wingers to injury during the second half of the season," Monchengladbach's sporting director, Max Eberl, said in a statement. "However, we mainly see this transfer as a long-term improvement of our squad.

"Jonas has shown in Mainz and Dortmund that he is an outstandingly talented Bundesliga player."

Hofmann only appeared in seven league games for Dortmund this season. He returned from a loan spell at Mainz in the summer, but failed to win a consistent role under manager Thomas Tuchel.

He had received interest across Germany this month, but it was Monchengladbach's "overall package" that clinched the move.

"There were multiple offers, as you might have read about in the media," Hofmann said. "I gathered some information and I have to say I only heard positive things about the club, and I come here with a very positive feeling."

Hofmann will have the opportunity to face his old teammates on Jan. 23, when Monchengladbach hosts Dortmund to start the second half of the campaign.