Darwin Nunez and Liverpool have a total agreement with Saudi club Al Hilal, with the forward expected to complete a medical in the coming days.
The initial fee is believed to be £46.3million, with potential add-ons of £10million.
The 26-year-old is said to be earning wages in the region of £400,000-a-week, marking a substantial pay rise from his current Reds contract, where he sits in a weekly wage of £140,000.
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Al Hilal are coached by former Inter Milan boss Simone Inzaghi, who left the Italian giants after guiding them to two Champions League finals in three years.
Al Hilal boss Simone Inzaghi masterminded the club's 4-3 victory over Manchester City in the Club World Cup
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Nunez will be greeted by former Premier League stars Joao Cancelo, Ruben Neves and Aleksandar Mitrovic upon his arrival at the club.
The side made history during their appearance in the Club World Cup, announcing themselves onto the global stage by knocking out Pep Guardiola’s Manchester City in a thrilling 4-3 victory after extra time.
Nunez joined Liverpool on an initial £64million from Portuguese side Benfica, but struggled to live up to the price tag.
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Darwin Nunez has struggled to ive up to his £64million price tag since his move to Anfield
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The striker has scored 40 goals in 143 appearances for Liverpool, but dropped down the forward pecking order under new boss Arne Slot last year.
The Uruguayan made just eight Premier League starts last term, scoring five goals.
This departure, along with the sale of Luis Diaz to German champions Bayern Munich for £65million, frees up further funds for the Reds’ pursuit of Alexander Isak.
The Swede has continued to train alone at Newcastle, as he insists on a move to Anfield.
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According to Sky Sports, boss Eddie Howe arranged a family day for players’ families but the 25-year-old was not present, instead being instructed to train alone following the gathering.
Liverpool saw an initial bid of £110million rejected for the forward last week, but with the additional finances of recent departures, they now have the potential to bridge the significant gap in valuation for the player between the two clubs.
Newcastle would be looking for £150million to sell their star striker.
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Alexander Isak is currently training alone
| GettyLiverpool have insisted they will not return to the table for Isak until the Tyneside club have found a replacement, but the sale of Nunez, which has left their options up top limited, may accelerate the process.
The Magpies failed in their pursuit of Benjamin Sesko to replace Isak, with the Slovenian favouring a move to Manchester United and a deal seemingly a matter of time.
Howe’s side are now forced to turn their attentions to other targets.
Brentford’s Yoane Wissa is looking to follow former teammate Bryan Mbeumo out the door at the Gtech Community Stadium, whereas Ollie Watkins has also been explored, although a deal for the 29-year-old appears to be difficult.
The departure of Nunez and the subsequent continuation of the Isak saga add to Liverpool’s dramatic transfer window.
Slot’s side have already spent big on Florian Wirtz, Hugo Ekitike, Milos Kerkez and Jeremie Frimpong.
The Anfield club have also seen significant departures, with Diaz, Trent Alexander-Arnold and Jarell Quansah all leaving.
With Nunez now expected to join that list, Liverpool are sure to turn their attentions to his replacement.
While Rodrygo has been mentioned as an option for Slot’s side, their priority remains with Isak.