Liverpool are set to break the British transfer record by signing Florian Wirtz from Bayer Leverkusen for a staggering £116m.

After a deal was struck between the two clubs on Friday, the Reds will pay an initial £100m, with the remainder due in add-ons linked to both the player's individual success and the team's achievements.

Wirtz, 22, has now been given the go-ahead to travel to Merseyside to undergo a medical and finalise the terms of a long-term contract.

Liverpool have committed to a guaranteed payment of £100m, a sum that surpasses any amount they've previously paid for a single player, even when including add-ons.

This deal will exceed the £115m Chelsea shelled out to Brighton for Moises Caicedo in 2023, should all clauses be fulfilled during Wirtz's time on Merseyside.

The huge bid demonstrates the faith within Anfield in the German international's current abilities and future potential, with those who have closely followed his career confident there is still significant room for improvement.

Wirtz, who contributed to 30 goals last season, was keen on a move to Merseyside, rejecting offers from Manchester City and Bayern Munich.

Liverpool were unwilling to meet Leverkusen's desired £127m (€150m) price tag.

However, a compromise was reached between Liverpool's sporting director Richard Hughes and his Leverkusen counterpart, Simon Rolfes.

There has been ongoing dialogue between the two clubs since last week when Liverpool made an initial offer of around £114m.

But to secure the deal, Liverpool had to increase their offer by an additional £2m.

Liverpool have broken their transfer record with the staggering offering - eclipsing their previous record of £85m (including add-ons) spent on Darwin Nunez from Benfica in 2022.

The intricate details of the deal, including what Wirtz and Liverpool must achieve during his contract to trigger payments over £100m, were finalised late on Thursday night.

The £100m will be guaranteed but, as is common in modern deals, will be paid in instalments over several years, with add-ons paid as and when they are triggered.

Although the transfer window has now closed until next week, deals can still be agreed and medicals conducted. The deal will be officially announced next week.

Liverpool's summer spending is set to exceed £200m as they aim to secure Milos Kerkez from Bournemouth, who are holding out for £45m.

Jeremie Frimpong has already been signed from Leverkusen for £29.5m.

Georgian goalkeeper Giorgi Mamardashvili is set to join from Valencia for around £30m after spending last season on loan with the La Liga club.