Trent Alexander-Arnold will become a Real Madrid player on Sunday, 1 June after Liverpool accepted a fee to release the defender early from his contract.
Sources at Liverpool have indicated the fee is 10m euros (£8.4m), which Real have made as a single, up-front payment. However, sources at the Spanish club have suggested they have paid a lower amount.
A payment has been agreed to allow the England right-back to join Real in time to play in the Club World Cup.
The 26-year-old would have been able to leave Liverpool on a free transfer when his contract expired on 30 June.
Alexander-Arnold, who had already confirmed he would leave Liverpool this summer, has agreed a six-year deal and his contract includes a 1bn euro (£840m) buy-out clause.
Fifa approved an additional window for this summer, from 1-10 June, allowing teams to register new players for the expanded month-long Club World Cup, which starts on 14 June and is being held in the United States.
Real’s opening group game is against Saudi side Al-Hilal on 18 June in Miami.
Before that, Alexander-Arnold could add to his 33 England caps having been named in the squad for their World Cup qualifier against Andorra (7 June) and friendly against Senegal (10 June).
Just hours after Alexander-Arnold’s move was confirmed, Liverpool completed the signing of Jeremie Frimpong from Bayer Leverkusen for 35m euros (£29.5m).
