Liverpool are set to make the first huge wave of the transfer market after agreeing to match Shakhtar Donetsk's asking price for midfielder Alex Teixeira.
The Reds had initially offered £24.3m for the Brazil international midfielder, who has been strongly rumoured with a move to Chelsea since last summer, but were told to cough up £38m otherwise the player was staying in Ukraine.
According to ESPN Brazil, negotiations between the two clubs are going "very well" and are now almost done, with it looking increasingly likely that the Reds have decided to match Shakhtar's demands.
By doing so, the club would break their transfer record for the 26-year-old, which is currently the £35m deal Kenny Dalglish authorised to sign Andy Carroll from Newcastle United in the 2011/12 season.
Liverpool chief executive Ian Ayre has flown out to Florida - where Shakhtar are currently on a mid-season training camp - to finalise proceedings, in what would represent a huge coup for both Liverpool and for manager Jurgen Klopp.
It is also a huge statement of intent from Liverpool, who buy forking out so much for Teixeira surely believe that finishing in the Champions League is still a genuine possibility, with the Anfield club eight points behind fourth placed Tottenham Hotspur.
Teixeira has caught the eye of many a European club with his blistering form this season, with the attacking midfielder slamming in an incredible 25 goals in 21 matches in both the Ukrainian Premier League and the Champions League.
The Brazilian - who is yet to make an appearance for the full national side - will also be eligible for Liverpool's Europa League games, as he has not appeared in that competition for Shakhtar yet, despite the Ukrainian side qualifying for it by finishing third in their Champions League group.
Liverpool's next fixture is the Capital One Cup semi-final second leg against Stoke City, where the Reds hold a 1-0 aggregate lead.
Check out #injuryTime where we speak about the Brazilian's touted move to Liverpool and the Reds' crazy 5-4 win over Norwich.