Luis Diaz is set to leave Liverpool for Bayern Munich, with a €75 million (£65.5m) deal agreed for the Colombian.
The Reds are on a pre-season tour in Japan and Diaz has been given permission to leave the trip in order to complete his move to the German giants.
Despite an impressive season with Liverpool last time round, which finished with a Premier League title, Diaz has been linked with an exit all summer.
Barcelona were interested in the winger, but Liverpool rejected an approach earlier in the transfer window.
However, their position has now changed and have decided to cash in on the 28-year-old in a busy summer in the transfer market for the champions.
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Diaz is under contract with Liverpool until 2027 and The Times report that there have been two attempts to agree a new deal but an agreement could not be reached.
There was reportedly too big a gap in what the club were willing to offer and the wage demands of the player.
Colombian journalist Pipe Sierra reports that Bayern are in negotiations with Diaz and will likely offer him a four or five year deal in Bavaria.
The Colombia international will leave Anfield having made 148 appearances for the club in all competitions and scoring 41 goals.
He has added a Premier League, FA Cup and two Carabao Cups to his CV, while he won a Champions League runner-up medal with the Reds.
Diaz will join Trent Alexander-Arnold, Jarell Quansah, Caoimhín Kelleher and Nat Phillips in leaving Liverpool this summer, while his departure could help facilitate another big signing.
The Premier League champions have already spent over £260m on the likes of Florian Wirtz, Hugo Ekitike, Jeremie Frimpong and Milos Kerkez and may well not be finished.
There could still be a blockbuster move for Newcastle United forward Alexander Isak, who has made it clear to the Magpies that he wants to explore a move elsewhere.
The Swedish superstar will likely cost around £150m, so the Reds would probably have to secure some more sales to get a deal done for the 25-year-old.
Darwin Nunez is available for transfer, with interest from Italy and Saudi Arabia, but a deal does not appear close at this stage.
The signs suggest Isak will be leaving Newcastle, though, as he is not with the rest of the squad on their pre-season tour of Asia.
Eddie Howe’s team were beaten by Arsenal in a friendly in Singapore on Sunday and was asked if there was the possibility that Isak could join them before the tour is over, but he said: ‘No chance.’
Isak has also emerged as a target for the Saudi Pro League but he is believed to want to remain in the Premier League, with Liverpool the clear favourites to sign him this summer.
