Liverpool will close a deal for Atletico Madrid winger Maxi Rodriguez inside the next 24 hours.
The Times says the Argentinian - a close friend of Javier Mascherano, the Liverpool midfield player and a compatriot - is set to sign an 18-month contract at Anfield once a medical is completed.
The 29-year-old earns about £85,000 a week and although Liverpool are not expected to match that figure, sources close to the player have indicated that he is happy with the deal the club are offering.
The transfer is a coup for Rafael Benítez, the Liverpool manager, who initially thought that Rodríguez would be available only on a six-month loan deal. However, after the player indicated his desire for a full-time move to Merseyside and a willingness to take a pay cut, Liverpool moved quickly to secure him on a longer contract.