Bradley Barcola is set to sign a Liverpool contract to 2031 after the Premier League club reached an agreement with Paris Saint-Germain over the structure of the transfer.
to move to Anfield in a package worth £120m.
The final discussions had centred over the structure of deal, with Liverpool now set to pay £106m up front and up to £17m in add-ons.
Documents must still be exchanged between the clubs and Barcola must complete a medical, which is expected to take place this weekend.
There had been a gap in valuation between the two clubs earlier in the summer, with PSG previously asking for around £145m for the France international, but the 23-year-old is now set to sign a five-year deal with Andoni Iraola's side.
Barcola would become Liverpool's second most expensive signing of all time, following the club-record deal to sign Alexander Isak from Newcastle for £125m last summer.
Barcola's arrival would potentially allow Cody Gakpo to leave Anfield, with Tottenham and Manchester City both interested in the Dutchman.
Liverpool are also trying to sign a second new winger, with their target currently Crystal Palace's Ismaila Sarr following difficult negotiations with Brighton for Yankuba Minteh.
Analysis from Your Site News' Callum Bishop:
Liverpool appear to have made their decision that Bradley Barcola is their Mohamed Salah replacement. Even if they don't naturally play on the same flank, Barcola will surely be looked at as the man to bring Salah's level of productivity from the wide areas.
When you think of Salah in his pomp, you think of the goals he brought to the team by cutting in from the right flank. Perhaps there's an expectation for the Frenchman to provide similar returns. But is that really what Liverpool need from their wingers?
Salah had his least productive season at Anfield last campaign. There are a number of factors for why that is, but one of those was a change in his role thanks to the introduction of two number nines.
When the middle man in the Liverpool attack was Roberto Firmino, it allowed Salah to be the person chances were created for as the Brazilian was far from a stereotypical goalscorer. However, when Hugo Ekitike and Alexander Isak arrived on Merseyside, Salah's modus operandi shifted. More of a provider, less of a finisher.
His record of 10 assists wasn't terrible, but what's interesting is that he only provided one for Ekitike and none for Isak.
Barcola is an incredibly talented player with major upside, but Ekitike and Isak may see his arrival as more of a hindrance in their desire to shine.
One thing is for sure. Jamie Carragher isn't convinced that the French international is the answer Liverpool need.
"He's a left winger for me," Carragher said. "They don't have anyone who looks comfortable playing on the right but they have four players in the squad before Barcola joins who can play off the left.
"In terms of balance of the squad, it's not the position Liverpool need."
Liverpool have also approached Crystal Palace over potentially signing winger Sarr.
Andoni Iraola's side are considering their options after talks stalled with Brighton over Minteh.
Palace have no intention of letting Sarr go at this stage and consider the 28-year-old to be not for sale. He has three years left on his contract.
Sarr missed Palace's opening weekend defeat at Everton. Reports claimed he was refusing to train but it is understood that the winger is currently injured.
Asked about Sarr's future during his press conference on Wednesday, Palace boss Pierre Sage said: "I understand for everybody that to have this kind of contact is difficult because you hesitate a lot, but for the moment he is with us.
"He is under contract, he is injured, and maybe you can link his injury and the situation.
"But for me, he is honest, and I have no problem with that. I spoke with him this morning about that. Yesterday about that too, and we just want him on the pitch, and all the rest for the other people."
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Mbaye predominantly plays on the right wing and made 24 Ligue 1 appearances for PSG last season, scoring three goals and adding two assists.
