Lovren is expected to join fellow Southampton players Rickie Lambert and Adam Lallana by departing Saints for Anfield in a move than will carry Liverpool's spending for the summer beyond £80 million.
That may sound a hefty outlay, but most of Brendan Rodgers' business in the transfer market has been funded by the sale of Uruguay striker Luis Suarez to Barcelona for £75 million.
The fee agreed with Southampton is greater than the fees of £18m that Liverpool paid to sign Mamadou Sakho from Paris Saint-Germain and Glen Johnson from Portsmouth.
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