Jurgen Klopp will earn €10 million a year as new Liverpool manager, according to German newspaper Bild.
The former Borussia Dortmund boss is set to take over the job left vacant by Brendan Rodgers, and could be unveiled at Anfield as early as today.
Rodgers was let go following Liverpool's 1-1 draw against Everton last weekend, and while it was initially thought that a deal for Klopp would be difficult because of his aversion to the club's transfer committee - Bild say that the final details of his arrival are being ironed out today.
While the exact details of Klopp's agreement haven't been revealed, Bild claim to know his salary, which works out at just over £7 million every year.
Another potential snag for the former Dortmund boss is who his assistants will be at Anfield. Liverpool reportedly want Sean O’Driscoll and Gary McAllister to remain at the club as Klopp's first team coaches, while the German wants his two assistants at Dortmund, Zeljko Buvac and video analyst Peter Krawietz.
Klopp is believed to be on Merseyside this morning and was pictured reportedly buying a car at an Audi dealership in Liverpool. BBC Sport reporter Ben Smith says that the 48-year-old will be announced as Liverpool manager by tonight.
The Reds currently sit in 10th place in the Premier League table after a slow start to the campaign which ultimately cost Rodgers his job.
Klopp's first game in charge should be against Tottenham at White Hart Lane after the end of the international break.