Newcastle United striker Andy Carroll could become the seventh most expensive player in the history of football after it was confirmed the club have accepted a reported £35 million bid from Liverpool.
Liverpool failed with an offer of £30 million for Carroll earlier on Monday but they increased their offer to £35 million - a figure quoted by Newcastle for the striker.
A Liverpool statement read: "Liverpool FC confirmed this afternoon that Newcastle United have accepted a club record offer for the transfer of Andy Carroll. The club have been given permission by Newcastle to discuss personal terms with the player, who will now travel to Liverpool for a medical."
Newcastle said they agreed to the deal after Carroll, 22, formally asked to leave St James' Park.
"A transfer request has been accepted by Newcastle United for Magpies striker Andy Carroll," a club statement read. "The 22-year-old England international has this afternoon handed in a transfer request, which has reluctantly been accepted by the club, and Carroll is currently in talks with Liverpool over a move to Anfield."
If a deal can be reached before the window closes at 2300 GMT, then it would elevate Carroll into an elite group of footballers.
Cristiano Ronaldo cost Real Madrid £80 million when joining from Manchester United in 2009, while only Zlatan Ibrahimovic (£60.7 million), Kaka (£56 million), Zinedine Zidane (£45.6 million), Luis Figo (£37 million) and Hernan Crespo (£35.5 million) have cost more than Carroll's reported price.
Liverpool have made the huge offer for Carroll because Fernando Torres is closing in on a £45 million to Chelsea and could leave Anfield on transfer deadline day.
Kenny Dalglish has already agreed a deal to sign Ajax forward Luis Suarez for a fee of £22.7 million. The Uruguay international will complete his move to Anfield on Monday.
It is also reported that Charlie Adam could yet join the club from Blackpool. The midfielder is believed to be en route to Merseyside, with estimates of a potential transfer fee rising as high as £14 million.
Meanwhile, out-of-favour Newcastle striker Xisco has sealed a move from Newcastle to Deportivo La Coruna.