Willian will decide whether to join Liverpool or Tottenham in the coming days after the north London club entered the race for his signature.
Liverpool had been confident of landing the Brazilian for a reported fee of around £27 million, but according to the Times, Spurs have matched that offer and the player will make a decision over his future today.
Willian has been tracked by Spurs for some time and the north London club have came close to landing the 25-year-old in the last two transfer windows.
However it appeared as though Liverpool were on course to secure the former Shakhtar Donetsk playmaker with current club Anzhi Makhachkala having reportedly agreed personal terms.
Now the Reds, who claimed a 1-0 win over Stoke in their opening Premier League fixture on Saturday, face missing out on another major signing this summer.
With striker Luis Suarez seemingly safe from the clutches of Arsenal, Liverpool had hoped to add a marquee signing before the close of the transfer window.
Liverpool missed out on Henrikh Mkhitaryan to Borussia Dortmund and also failed with a bid for Atletico Madrid's Diego Costa, but now hope Willian will sign on the dotted line.
The face a tough task in beating off Spurs however, with the player previously admitting he was friends with boss Andre Villas-Boas, who has perviously spoken of his admiration for the Brazilian. Despite that the Times suggest Liverpool are not giving up hope of landing their man.
Spurs have splashed around £60 million in the transfer window so far on the likes of Paulinho and Roberto Soldado, and could take their spending up to £90 million should they be successful in their bid for Willian.
That spending could be offset by the sale of Gareth Bale, who has been linked with a world record move to Real Madrid.
Willian is due in England today ahead of his decision having been told he, along with the majority of Anzhi's players, can leave the club as part of a major cost-cutting exercise.