Liverpool, Tottenham Hotspur and Manchester United are competing to sign Luis Diaz of Porto.
Liverpool had been prepared to pay Porto\'s £50 million valuation of the 25-year-old.
But Porto is now ready to offload Diaz at a reduced fee of £37m plus an additional £12.5m in performance-related installments.
Liverpool are now considered the frontrunners to sign Diaz.
Via Mark Ogden/ESPN