Luis Diaz is closing in on a move to Bayern Munich. As reported by the ECHO on Sunday, the Reds have agreed a €75 million (£65.5 million) deal with the German giants for the Colombian. Diaz was left out of Liverpool's squad for Saturday's 4-2 pre-season friendly defeat by AC Milan in Hong Kong because of speculation surrounding his future.

A Liverpool Departure That Makes SenseLuis Diaz’s time at Liverpool has come to an end, with the Colombian winger set to join Bayern Munich in a deal worth £65 million

Liverpool "can upgrade" on Luis Diaz if he does complete his move to Bayern Munich, believes Redmen TV's Dan Clubbe. The 28-year-old is set for a medical with the Bundesliga champions after a £65.5m deal was agreed on Sunday.

The winger's departure to Bayern Munich felt like a decision Richard Hughes couldn't turn down, but it does pose issues that Liverpool will now need to address in the transfer market

They earned £174.9 million in prize money for winning the Premier League last term and it was reported that the Merseyside giants have benefitted from FSG's decision to renew the £350m revolving credit facility which was due to expire this month.