Barcelona will sign Brazil midfielder Philippe Coutinho from Liverpool on a five-and-a-half year contract, the two clubs said on Saturday.
British media reported that the Spanish club will pay about £142 million for Coutinho, making it the third most expensive transfer in football history.
“Barcelona and Liverpool have reached an agreement for the transfer of Philippe Coutinho,” the La Liga leaders said in a statement.
“The player will sign a contract for the rest of the season and five more and will have a release clause of 400 million euros.”
Liverpool confirmed the deal, Reuters news agency reported.
“Liverpool FC can confirm Philippe Coutinho will be leaving the club after a transfer agreement was reached with FC Barcelona, subject to medical and agreement of personal terms,” the Premier League club said.
“The player now has permission to complete the usual formalities to conclude the transfer immediately.”
Paris St Germain paid Barcelona 222 million euros for Brazilian forward Neymar in August and the French club will pay Monaco 180 million euros to sign Kylian Mbappe when he completes a loan spell this season.
Coutinho’s fee will eclipse both the 105 million euros Barca paid Borussia Dortmund for France forward Ousmane Dembele in August and the 75 million pounds ($102) Liverpool received from Barcelona for Luis Suarez in 2014.
Coutinho will be unable to play for Barca in the Champions League this season after taking part in the competition for Liverpool but he will boost their bid for a 25th La Liga title.