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Luis Suarez is on the brink of leaving Liverpool FC after Barcelona agreed to pay his release clause of around £75million.

The structure of the deal still needs to be thrashed out but the ECHO understands the transfer could be completed as early as next week.

Negotiations between the clubs began in London on Wednesday and progress has been swift.

Reds chief executive Ian Ayre informed the Catalan giants that the Uruguayan striker wouldn't be allowed to leave for less than the release clause in the lucrative contract he penned last December.

After accepting that Liverpool wouldn't budge, Barcelona officials have now vowed to pay the asking price.

The fee of around £75million would shatter the previous highest of £50million the Reds banked when Fernando Torres was sold to Chelsea in January 2011.

Reports in Spain suggest Suarez, who cost the Reds £22.8million from Ajax three and a half years ago, has already agreed personal terms on a five-year contract with Barcelona.

Liverpool would have accepted Barca attacker Alexis Sanchez plus around £45million for Suarez but it looks set to be straight cash.

The Chile international is reluctant to leave the Nou Camp and is still considering his options. His representatives have spoken with both Liverpool and Arsenal among others.

FIFA has re-iterated that Suarez will not be allowed to train during his four-month ban for biting.

The 27-year-old has appealed against the suspension which runs until late October.

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