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Javier Manquillo will fly to Merseyside to undergo a medical on Monday ahead of completing his move to Liverpool FC from Atletico Madrid.
The 20-year-old right-back will join on a two-year loan but the Reds do have the option to make the move permanent next summer for around £5million.
Under the terms of the deal, the eventual fee will be determined by the number of appearances Manquillo makes.
Chief executive Ian Ayre flew to Spain earlier this week to secure his services and Manquillo will become Liverpool's seventh summer signing.
Talks with the La Liga outfit are at an advanced stage with Liverpool confident a compromise will be reached on the fee and the payment structure.
The Reds' initial offer of £16million for Moreno back in May was rejected with Sevilla demanding in excess of £20million for the Spain international.
Madrid-born Manquillo started out in Real Madrid's youth system but was released in 2007 and signed for Atletico soon after.
He took his first-team bow in December 2011 but has found his opportunities limited with Juanfran the club's established right-back.
Manquillo will now compete for that position at Anfield with Glen Johnson, Jon Flanagan and Martin Kelly.
Source: Liverpool Echo
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