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Financial details were not disclosed by either club, but it was been reported that Liverpool triggered a €35million release clause for the 24-year-old Dutch international, whose deal with Leverkusen was valid until 2028.
Frimpong, who will officially join on June 1, signed a five-year contract.
The right back, who can also play as a winger, played a key role in the Leverkusen side that won the German domestic double in 2023-24, chipping in with 14 goals and 12 assists across all competitions.
Liverpool have also made a bid of up to €130million for Bayer Leverkusen’s Florian Wirtz.
The offer, which would smash Liverpool’s transfer record, includes add-ons on top of a fixed sum.
It could set up two deals with Leverkusen with Liverpool set to pay £30m to bring in right-back Jeremie Frimpong.
Their bid for Wirtz reflects a growing confidence the Germany playmaker will choose Liverpool.
He also attracted attention from Manchester City while Bayern Munich had been the favourites to sign the 22-year-old.
But Liverpool have made Wirtz their major target as they look to build on the squad that won the Premier League title.
They had expected this summer would be busier than last and are willing to pay a fee in excess of the previous club record, with Virgil van Dijk costing £75m and Darwin Nunez's deal potentially reaching £85m.
Liverpool are helping to fund their signings by selling Trent Alexander-Arnold to Real Madrid, bringing in €10m for a player in the last month of his contract.
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