Liverpool have agreed to a deal to sign Paris Saint-Germain forward Bradley Barcola for a fee of €140 million (£120M / $163M), sources told ESPN's Julien Laurens.
Barcola, 23, will sign a five-year deal with the Premier League club, sources said, and is awaiting the greenlight from PSG to travel to Liverpool to undergo a medial.
The France international has been Liverpool's top transfer target all summer. The agreed fee, of which at least £100M ($116M) is guaranteed, is significantly less than the £145M ($197M) Liverpool were initially quoted by PSG, with a breakthrough in negotiations having arrived overnight.
Barcola, who was a crucial part of PSG retaining both the Ligue 1 and Champions League title last season, has just two years remaining on his current deal in Paris and has been keen on a move to Anfield.
He is set to become Liverpool's second-most expensive signing in history, following the £125M ($145.5M) addition of striker Alexander Isak from Newcastle United last summer.
Liverpool head coach hinted that a deal was close when speaking at a news conference on Thursday.
"As you know we are trying to sign in that position [wingers] and we cannot talk about players that right now are not ours but it is evident we are trying to improve and fill or trying to fill that position because we don't have the numbers," he said. "I hope we can have good news soon but we are still not there."
Barcola scored three goals in eight appearances for France at this summer's World Cup and is eager for more regular game time amid intense competition at PSG.
Liverpool's priority all summer has been strengthening in wide areas following the departure of long-time talisman Mohamed Salah, who joined Turkish side Trabzonspor on a free transfer this month.
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Sources told ESPN that Iraola's side have had two bids rejected for Brighton & Hove Albion's Yankuba Minteh, while they also registered an interest in Crystal Palace forward Ismaïla Sarr.
The arrival of Barcola could have an impact on the future of Cody Gakpo, who is of interest to both Tottenham Hotspur and Manchester City.