According to report, Paramount updates understand Liverpool have agreed a fee worth 148m Pounds with Barcelona for the transfer of Brazilian Philipe Countinho to the Nou camp.

The Reds are said to be working on plans to replace the brilliant Brazilian after their owners indicated to Barcelona that €160m (£148m) would be enough to get a deal done.

Fenway Sports Group, who own Liverpool, have rejected three offers worth up to £118m for Coutinho so far.

But top-secret meetings which took place on Friday and Saturday appear to have sealed the forward’s dream move to Catalonia. And Barcelona are ready to pay the Red’s massive asking price. 

Spanish paper, Sport, claim a deal is now all-but done – but hinges on whether Liverpool can sign Renato Sanches from Bayern Munich beforeThursday’s transfer deadline.

Sanches has asked not to be included in match day squads for the Bundesliga giants with talks reportedly at an advanced stage.

Once Liverpool have Sanches’ signature, the Coutinho transfer will be given the green light and he will become the world’s second-most expensive player.

Barca sporting director, Robert Fernandez, also confirmed talks were ongoing.

Speaking to BeIN Sports, Fernandez said: “Coutinho?” We are continuing the negotiations.

“We do not want and we do not have the right to say what we are doing. But talks are ongoing over a fee for the player”.