Liverpool will complete the formalities of a season-long loan deal for Chelsea's Victor Moses before the transfer window closes.
The 23-year-old has slipped even further down the pecking order at the Blues after the summer signings of Willian and Andre Schurrle.
Liverpool will pay the Stamford Bridge club a loan fee, understood to be around £1m, as part of the deal for the former Crystal Palace and Wigan attacker.
West Bromwich Albion, Southampton and Everton had also shown an interest in Moses.
Moses signed for Chelsea from Wigan for a fee reported to be around £9m in August 2012.
He made 23 Premier League appearances last season, scoring one goal, but has yet to feature for new manager Jose Mourinho this season.
The Nigerian international joined Wigan from Crystal Palace on a three-and-a-half-year deal in January 2010 for a reported fee of £2.5m.
Earlier this week Liverpool agreed to sign central defenders Mamadou Sakho and Tiago Ilori for a combined fee of around £25m.
Sakho, 23, will cost £18m from Paris St-Germain with Ilori, 20, moving from Sporting Lisbon.
Chelsea have just bought Atsu for £3.5m and loaned him out to Bony's former club Vitesse.
Ancelotti has pretty much said Ozil is for sale. Considering our targets this summer, I would like to have thought we might bid for him. Doubt it though.
Ancelotti has pretty much said Ozil is for sale. Considering our targets this summer, I would like to have thought we might bid for him. Doubt it though.
Reporting asking price: £40m.

Reporting asking price: £40m.
I still would pay that. Top top quality.
If he gets regular game time, great move for him.So Borini to Sunderland on loan. What's everyone's views?
He's shown glimpses but seems to be lacking confidence at the moment so maybe a loan spell at Sunderland to get him used to the Premiership again will do him some good. Remember he is only young, 21 I think so plenty of time on his side. A good run in their team this year could do wonders for him and come back a player capable of notching 10-15 goals a season.
SSN reporting Arsenal have bid a £42.5m bid for Ozil.![]()
SSN reporting Arsenal have bid a £42.5m bid for Ozil.![]()
Sunderland hope to conclude a loan deal for Liverpool striker Fabio Borini before the end of the transfer window.
Black Cats manager Paolo Di Canio rates the 22-year-old Italian, who has struggled at Anfield since becoming Reds boss Brendan Rodgers' first buy.
Borini, who played for Rodgers at Chelsea's academy and at Swansea, moved from AS Roma in July 2012 for £11m.
Further talks are expected once Liverpool have signed Chelsea's Victor Moses on a season-long loan deal.
That move would push Borini further down the Anfield pecking order.
Good experience for him. I just worry about our squad depth. Is Suarez, Sturridge and Aspas enough?