Luis Diaz: Liverpool sign Colombia winger from Porto in five-year deal for initial £37.5m

The signing of Luis Diaz from Porto is worth 45m euros and includes a further 15m euros in potential bonuses.

A contract has been signed with the club.

The 25-year-old had previously been linked with a move to Tottenham, who reportedly had a bid of around £38m rejected.

The international said via the club's official account that he was very happy to sign for the club.

A work permit is required for Diaz to arrive in the city before the end of next week.

He has 14 goals and five assists in 18 league appearances this season for Porto, who are top of Portugal's Primeira Liga.

The player is on international duty for the World Cup.

The move could be completed before the January transfer window closes after a medical was conducted by a delegation in Argentina.