Liverpool are set to make their first signing ahead of the next season with reports suggesting that Thiago Alcantara is on the verge of joining the English Premier League champions.

Alcantara refused to extend his contract with Bayern Munich though the club wants to keep him.

According to German outlet Bild, the Reds are willing to pay anything less than 25 million euros ($28.5 million), while Bayern want around 40 million euros for the 29-year-old.

The publication adds that Liverpool and the player have already agreed terms – and Jurgen Klopp has even approved the signing.

The Spanish midfielder joined Bayern in 2013 and made 231 appearances for Bayern, scoring 31 goals and creating 37 more.

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