Liverpool have agreed to pay the £34.5million clause for Victor Munoz from Osasuna after beating Newcastle United to the move on Wednesday.
The fee will be paid in two instalments and follows extensive and discreet work on the Spain winger which culminated in Munoz committing to Liverpool despite the rival interest of Newcastle, Manchester United and Bayer Leverkusen.
His former club Real Madrid also looked at taking him back to the Bernabeu but concerns over playing time made this a non-starter for the 22-year-old. As it is, they will pocket £17.3m from the deal as part of their original sell-on arrangement with Osasuna. Real also retain the right to match any future offer for Munoz.
Barcelona were also keen prior to signing Anthony Gordon but such a move would not be countenanced by Real, who had a matching rights option.
Newcastle thought they had a deal in place for Munoz, having had an initial bid of £29m plus £4.3m in add-ons accepted by Osasuna. They understood he was keen to join them, had agreed personal terms and were planning a medical before being instructed by his representatives to wait over the last 24 hours.
Liverpool's longstanding interest was accelerated following the appointment of Andoni Iraola, with Munoz being discussed in early squad planning conversations due to the club's admiration for a player that the new coach knows well through his extensive knowledge of La Liga.
Liverpool have agreed to pay the £34.5m release clause for Victor Munoz in two instalments
In this respect, alignment over the move with the recruitment department was straightforward and a key factor in their ability to escalate negotiations aggressively and decisively.
Munoz is viewed as a multi-functional attacker who can play left wing and right wing. He has also operated at centre forward.
Such versatility would add to the options Liverpool already have with Rio Ngumoha also able to play on either flank and the more established Cody Gakpo.
As well as giving Iraola tactical options and enhancing competition for places, Munoz’s arrival will also have the spin-off of not affecting Ngumoha's playing time given their ability to interchange positions.
A medical took place yesterday with permission to proceed having been granted by the Spain Football Federation. It was conducted by Liverpool medical staff, who travelled over to the US.
Munoz pictured with Barcelona's Lamine Yamal in Spain's World Cup camp
One of Liverpool's priorities this summer has been to add pace and acceleration to their attack and this proposed acquisition would be very much in keeping with this ambition.
If completed as expected, the player will sign a six-year contract with Liverpool.
The signing could yet impact on Federico Chiesa's future.
While there is interest in Chiesa from Italy, there is an acknowledgment from Liverpool that he fits Iraola's playing style more than that of predecessor Arne Slot.
However, this situation is likely to be complicated by Chiesa's desire to be a regular starter.
Liverpool also retain interest in signing one of either RB Leipzig's Yan Diomande or Bradley Barcola of Paris Saint-Germain.
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