Liverpool are keen to use the funds raised through Díaz’s sale to sign Newcastle United striker Alexander Isak, but an opening bid worth over £110 million ($145.4 million) was swiftly rejected by the Magpies on Friday and it remains to be seen whether they will table a second offer.

Bayern Munich has signed Liverpool winger Luis Díaz on a four-year contract in the German champion’s biggest deal of the offseason so far.

Bayern Munich is set to sign Luis Díaz from Liverpool. On Sunday, several outlets reported a breakthrough in the negotiations between the two clubs, with Bayern reportedly paying €75 million ($88 million) for the 28-year-old Colombian winger.