Coutinho was earning £470,000-a-week at Barcelona.
Philippe Coutinho has reportedly agreed a staggering 70 per cent wage cut in order to complete his £17m move to Aston Villa from Barcelona.
Villa confirmed that they had agreed a permanent deal to sign the Brazil international on a four-year deal earlier this week, with the attacking midfielder having joined the Premier League outfit on loan in January.
As reported by
The Telegraph, the 29-year-old has taken a pay cut of over 70 per cent in order to complete the move to Villa - with his £470,000-a-week wage at Barcelona dropping down to around £125,000-a-week.
The report adds that the former Liverpool man has agreed to the decrease as he was keen to permanently return to England after a difficult period in Spain.
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Gerrard backs Coutinho to have an important impact.
Villa boss Steven Gerrard believes that the addition of Coutinho will help to attract more big-name players in the summer.
"I've only experienced one window at Villa but I remember sitting down with Lucas Digne in January and him saying: 'What's happening with Coutinho?'" said Gerrard.
"Players ask questions. They want to know who they are going to be playing with, and they want to play with good players.
"If we are going to achieve things, players want to know they are going to be doing it with other good players. That's the way it is.
"Philippe is still in his prime. When he came here he wasn't really match fit and it was always going to take time for him to settle but he will be a big player here in the coming years."
Gerrard added: "To have him here full-time and settled, he'll go up another level because that feeling of knowing where he's going to be playing his football for the next four years will help him settle.
"He's a player that needs to feel wanted; he needs to feel support."
The Brazilian has scored four goals and registered three assists in 16 appearances for Villa since arriving in January.
The Villans are expected to make a number of additions in the summer, with Leeds United midfielder and England international Kalvin Phillips a leading target. Should the Yorkshire club be relegated from the Premier League this campaign, Gerrard's side could potentially secure a cut-price deal for the 26-year-old.
