The biggest deal of the January transfer window appears to be coming to fruition, after Liverpool agreed a fee with Barcelona for Philippe Coutinho.

After a series of failed bids last summer, speculation has been mounting in recent weeks and the two clubs have now agreed a fee that could be worth up to £142million.

That would make the Brazilian the second-most expensive players of all-time, following his countryman Neymar, who left the Nou Camp for Paris Saint-Germain in the summer.

The Reds are expected to receive £105m up front – a British record – for the 25-year-old Brazil international, with the rest in realistic add-ons.

Liverpool said the club rejected the offers for Coutinho in August because it would have been an “irresponsible” financial risk for the club. Five months on, Barcelona has negotiated a deal that Liverpool is more comfortable with.