"Celta have more offers than just the one from Liverpool," a deal insider told the Mirror.
"There are offers from other Premier League sides, and from Italian and German teams that have qualified for the Champions League.
"They also have a very good offer from Benfica.
"However," he added, "Iago wants to play in England, and his preference is still for Liverpool."
"I believe this will all be resolved either this week or next."