Liverpool confirmed on Saturday that it had agreed a $192.5 million deal to sell Brazilian international Philippe Coutinho to Barcelona.

In a statement issued from Anfield Stadium, Liverpool confirmed that Coutinho will be leaving the club after a transfer agreement was reached with Barcelona, subject to medical and agreement of personal terms, Xinhua reported.

“The player now has permission to conclude the transfer immediately.”

Liverpool are expected to receive $142.5 million up front, setting a new British record, with the rest of the fee in realistic add-ons.

The final deal will be eclipsed only by the $271 million Paris Saint Germain paid Barcelona for Neymar last summer and the $223 million Kylian Mbappe will cost PSG at the end of his initial loan spell from Monaco.

Coutinho joined Liverpool from Inter Milan for $11.6 million in January 2013.

Liverpool manager Jurgen Klopp told Liverpoolfc.com: “It is with great reluctance that we — as a team and club — prepare to say farewell to a good friend, a wonderful person and a fantastic player in Philippe Coutinho.

“I can tell the Liverpool supporters that we, as a club, have done everything within our means to convince Philippe that remaining part of LFC was as attractive as moving to Spain, but he is 100 per cent certain his future — and that of his family — belongs at Barcelona. It is his dream and I am now convinced there is nothing left at our disposal to change his mind.”

“Players will come and players will go, that is football, but as a club we are big enough and strong enough to continue with our aggressive progression on the pitch, even when we lose an important player. We have never been in a better position in recent times, as a club, to react in the right way. We will use our size and strength to absorb moments like this and still move forward.”