Liverpool clinched a deal with Ajax for Luis Suarez on Friday subject to the striker passing a medical examination.
The transfer fee, which was worth up to $36 million US, would make the Uruguay international John Henry's biggest signing since his Fenway Sports Group bought Liverpool in October.
Liverpool said it has permission to discuss personal terms with the 24-year-old Suarez, who has scored 111 goals in 159 matches since joining Ajax in 2007.
Suarez was banned from playing in the Netherlands until Feb. 4 after receiving a seven-match ban for biting PSV Eindhoven midfielder Otman Bakkal.
Suarez was one of the stars of this year's World Cup, scoring three goals for Uruguay. But his scoring prowess was overshadowed by his deliberate handball on the line in the dying seconds of the quarter-final against Ghana. He prevented a goal, Asamoah Gyan missed the ensuing spot kick, and Uruguay then went through on penalties.
Suarez will provide Fernando Torres with some much-needed support up front at Liverpool after the 18-time English champions announced on Thursday that they rejected a bid from Chelsea for the Spain striker reported to be worth $56 million.
There have been calls from within the dressing room for significant investment in the squad to restore Liverpool to Europe's elite, having missed out on the Champions League this season.
Consecutive victories under new manager Kenny Dalglish have already lifted Liverpool away from the Premier League relegation zone up to seventh.
But the team is still nine points behind Chelsea for the final Champions League qualification spot.