Liverpool have signed Colombia winger Luis Diaz from Porto in a deal worth 45m euros, with a further 15m euros in potential bonuses.
Diaz has signed a contract until 2027 with the Merseyside club.
The 25-year-old had previously been linked with a move to Tottenham, who reportedly had a bid of around £38m rejected.
“I’m very happy to sign for Liverpool,” the international said on Sunday via the club’s official Twitter account.
The moment you’ve been waiting for…
Luis Diaz is a RED #VamosLuis pic.twitter.com/wl9koUlPgl
Diaz requires a work permit and is unlikely to arrive in Liverpool until the end of next week at the earliest.
He has scored 14 goals and provided five assists in 18 league appearances this season for Porto, who are top of Portugal’s Primeira Liga.