Manchester City have completed the signing of highly-rated Spanish midfielder Denis Suarez reports the Daily Mail.
Much to the relief of Liverpool fans, it is the 17-year-old Celta Vigo starlet who is set to make the summer switch to Eastlands after the two clubs agreed a fee.
A statement on the La Liga outfit's official website read:
"Celta Vigo and Manchester City have today completed the transfer of the rights of midfielder Denis Suarez, who will play for the English club next season.
"Celta would like to thank Denis Suarez for his efforts and dedication in the past few seasons with our junior team, and we wish him great success in his new undertaking in English football."
Suarez joins the Citizens for an initial fee of £850,000, rising to £2.6million depending on appearances and performance related clauses for Roberto Mancini's side.
Initial headline reports of City's surprise interest in Suarez may have alarmed Liverpool fans, many of whom are still reeling from the loss of former Reds idol Fernando Torres, who swapped Anfield for Stamford Bridge in the recent January transfer window.
However, the return of Kenny Dalglish and the acquisition of Liverpool's new found strike partnership, Denis' namesake Luis Suarez and Andy Carroll, seems to have rejuvenated the Reds fortunes.
With Dalglish now confirmed as full-time manager, Liverpool are now looking to rebuild their Anfield squad in a bid to return the club to its former glories, with director of football Damien Comolli on the lookout for potential transfers.
The Reds had also reportedly been keeping tabs on Suarez, but having opted for a summer switch to Manchester City, the young talent will now take up his post with Liverpool's Barclays Premier League rivals while they turn their attention to other transfer targets.