Spanish giants, FC Barcelona and Liverpool FC of England have reached an agreement for the transfer of Philippe Coutinho for a transfer fee of £142 million.
The Brazilian who began his football career in his hometown with Vasco de Gama will sign a five-and-a-half-year contract and will have a buyout clause of 400 million euros (£355m).
The final deal will be eclipsed only by the £200m Paris St-Germain paid Barcelona for Neymar last summer, and the £165.7m Kylian Mbappe will cost PSG at the end of his initial loan spell from Monaco, BBC reports.
The 25-year-old joined Liverpool from Inter Milan for £8.5m in January 2013, where he quickly established himself as a key player at the club.
A statement on Liverpool’s official website confirmed the deal.
“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 player now has permission to complete the usual formalities to conclude the transfer immediately”, the statement read.
Barcelona also confirmed the deal on its official website.
“FC Barcelona and Liverpool FC have reached an agreement for the transfer of Philippe Coutinho. The player will sign a contract for the remainder of the season and five more and will have a buyout clause of 400 million euros.
“We will shortly inform you of the details of the player’s arrival and presentation.
“The midfielder arrives at FC Barcelona after demonstrating his class as a player with Liverpool and the Brazilian national side. Born on 12 June 1992 in Rio de Janeiro, Brazil, Phillipe Coutinho is one of the most talented midfielders in the world with the potential to get even better”, the statement added.