The agreement comes after the Bundesliga champions were understood to have reopened dialogue regarding a move after having an initial offer of 67.5 million euros (£59m) dismissed last week.

Liverpool are currently on their pre-season tour in Asia and Diaz was still with the team when they arrived in Tokyo on Sunday, but now has permission to leave.

The 28-year-old has two years left on his original contract and it is understood the Reds accepted the bid for what they consider to be his market value.

Diaz joined Liverpool in January 2022 and made 50 appearances in all competitions last season – scoring 17 goals – as he helped the team clinch the Premier League title.

Bayern Munich close to reaching 75m euro deal for Liverpool forward Luis Diaz	Liverpool set to accept second Bayern Munich offer for Luis Diaz	Liverpool transfer news LIVE - Luis Diaz €75m deal, Alexander Isak stance, Darwin Nunez latest

His time on Merseyside also saw him lift the FA Cup and two Carabao Cups.

Diaz was left out of Liverpool’s 4-2 friendly defeat by AC Milan in Hong Kong on Saturday as speculation surrounding his future continued to mount.

Speaking post-match, head coach Arne Slot said: “In Lucho’s (Diaz’s) situation, there’s a lot of rumours around him lately and I cannot go into that.

“He’s training really well with us but we have decided for now not to play him yet.

“I’m used to talking to most of my players on a regular basis.

I cannot comment much more about that.”

Liverpool have been busy in the transfer window so far and have bolstered their attacking options with Florian Wirtz – who made his first start as a false nine on Saturday – and Hugo Ekitike joining the club.

There have also been further arrivals on Merseyside, with Jeremie Frimpong, left-back Milos Kerkez and goalkeeper Giorgi Mamardashvili all signing and the trio played in the second half of Saturday’s friendly.