Liverpool have agreed a deal to sell Luis Diaz to Bayern Munich, according to Sky Sports.
The total fee for the deal is £65.5m.
Diaz, who has two years remaining on his Liverpool contract, now has permission to leave the club's Asia tour. Sky Sports News understand he is expected to leave Tokyo on Monday to finalize the move to Bayern.
Liverpool rejected Bayern's initial advances and an offer believed to be in the region of £58.5m (€67m) but the German club returned with a second offer of £65.5m (€75m) including add-ons.
The Reds have accepted the offer after securing what the club considers to be full market value.
Diaz joined Liverpool in January 2022 for a guaranteed £37.5m (€42.9m) payment, signing aa five-and-a-half-year contract.