Liverpool have completed the signing of Porto winger Luis Diaz in a deal worth around £50million.

The Reds have agreed a fee of £37.5million with the Portuguese giants, plus around £12.5million in potential add-ons and bonuses. The release clause in Diaz’s contract with Porto stood at £67million.

Diaz will wear the No 23 shirt at Anfield.

Liverpool had long been admirers of the 25-year-old, who has emerged as one of the most exciting talents in European football, and were thought to be planning to wait until the summer to make a formal approach.

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