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Porto have accepted Liverpool's bid for Luis Diaz, according to Portuguese reporter Pedro Sepulveda.
Liverpool are expected to pay €45 million as an initial transfer fee, with €15m to be paid as add-ons.
The 25-year-old winger has reportedly agreed on personal terms with Diaz, with the player likely to earn an annual salary of €3.5 million.
Diaz has also agreed on the personal terms of his deal with the Reds.
Liverpool were interested in signing Diaz for the summer but stepped up their interest once they realised Tottenham were also in the fray.
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