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Bayern Munich have agreed a €75 million ($88m) deal to sign winger Luis Díaz from Liverpool, sources have told ESPN.

Díaz missed Liverpool's friendly defeat against AC Milan on Saturday due to ongoing speculation linking him with a move away from Anfield this summer and has now been granted permission to leave the Reds' preseason tour of Asia.

Sources told ESPN that Díaz first signalled a wish to leave Liverpool in the summer of 2024, but the club held firm while assessing both the squad and the market.

Two separate attempts to agree a contract extension failed due to a gap between offers and demands.

Luis Díaz is set to leave Liverpool this summer. Andrew Powell/Liverpool FC via Getty Images

There has been extensive interest in the player all summer, with Liverpool previously rejecting advances from both Barcelona and Bayern and insisting the player was not for sale.

Sources told ESPN the club rejected a rejected a €67.5m bid from Bayern earlier this month.

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Díaz enjoyed the most productive season of his Liverpool career last term, scoring 17 goals in all competitions and helping Arne Slot's side to the Premier League title.

The forward joined the club from FC Porto in January 2022, with his contract at Anfield set to expire in 2027.

His impending departure will help balance out some of Liverpool's spending this summer, with the Premier League champions spending around £290m on Florian Wirtz, Jeremie Frimpong, Milos Kerkez, Giorgi Mamardashvili and Hugo Ekitike.