Liverpool are set to finalise the signing of Luis Diaz

Luis Diaz has faced Liverpool twice this season in the Champions League

Liverpool are looking to finalise a deal that could be worth up to £65million, should all bonus clauses be met.

The deal includes a guaranteed initial fee of £35million, with extra fees coming from a culmination of both 'easy' and 'difficult bonuses'. The easy bonuses total to a fee of £25million with the further £5million being classed as 'difficult', according to Fabrizio Romano.

The player is set to sign a 5 year deal with the Reds, which will be worth €4million in base salary and €1.5million in additional bonuses, according to Pedro Almedia - who has reported on a possible transfer since the beginning of January.

The 25 year old is currently playing for his national team in South America, with Liverpool sending a medical team to Argentina on Saturday so that the deal can be completed before the Monday deadline.

Reports suggest that Jurgen Klopp and his transfer team at Liverpool had always been interested in signing Luis Diaz but were ready to wait for the summer before they made a move. However, since Tottenham sent a bid somewhat out of the blue, Liverpool were forced into making the move so that they did not miss out on their number one transfer target.

What other clubs were in Diaz?

Diaz was being pursued by a number of Premier League clubs who looking to strengthen their squads in the January window.

The main teams that declared interest in a potential deal were Tottenham Hotspur, Manchester United, Everton and (of course) Liverpool.

Manchester United and Everton never made an official offer for the player but reports suggest that both clubs declared their interest to the Portuguese team.

Tottenham Hotspur, however, did make an official offer for the player after their deal fell through for Adama Traore.

It is understood that Tottenham sent an initial offer to Porto for the player but it was deemed to be 'no where near' their asking price - which was set at £65million.

Tottenham were reportedly preparing an offer that could match that of Liverpool, but ended their interest as they were informed that Diaz had no interest in playing for Tottenham - as he preferred to play for Jurgen Klopp in Liverpool.