Danny Ings will sign for Liverpool when his Burnley contract expires at the end of June, pending a medical.
The England Under-21 striker's future was expected to lie away from Turf Moor after the Lancashire club returned to the Championship following just one season back in the Premier League.
Though not enough to keep Sean Dyche's men in the top flight, Ings scored 11 goals in 35 league appearances in his first Premier League season.
The 22-year-old's refusal to sign a contract extension with Burnley made him a reported target for many clubs, including Real Sociedad and Manchester United.
Burnley confirmed in a statement that they had rejected an offer from Liverpool for the player, who was free to discuss a move to Anfield with his contract running down, but "continue to have dialogue with the club in order to reach a resolution over the fee".
If a fee for the striker cannot be agreed between the clubs, it will instead be decided by a tribunal.
‘Newcastle’s board said I was over the hill, so I left and played 108 consecutive games and won the European Cup – not a bad way to answer that accusation!’: Ex-Magpies defender reflects on career highlight after proving former side wrong
‘Parma viewed him as the perfect replacement for Adrian Mutu, who’d left to sign for Chelsea. But Manchester United’s interest was much more concrete’: Cristiano Ronaldo's 2003 transfer details revealed by former Sporting director of football
