Liverpool have completed the signing of Fabio Carvalho from Fulham after initially missing out on the winger on Deadline Day in January.
Carvalho's current deal expires this summer and Fulham are entitled to compensation set by a tribunal should the teenager join another English side at the end of that, while continental clubs would only need to pay a nominal fee.
The 19-year-old moves to Anfield on July 1 on a five-year contract.
Carvalho already underwent a medical with Fulham's permission ahead of a transfer which sees Liverpool pay Fulham £5m plus add-ons.
Liverpool's move for Carvalho in January fell through after the Premier League side ran out of time to complete the deal on Deadline Day.
Jurgen Klopp's side were set to sign Carvalho and loan him back to Fulham for the rest of the season but he remained with the Championship leaders anyway with no deal having been agreed.
Carvalho has scored 11 goals in 38 appearances for Marco Silva's side this season, finding the net in Fulham's 4-1 FA Cup defeat to Manchester City in February.
In 2021, Liverpool were ordered to pay Fulham a record compensation fee for a 16-year-old following Harvey Elliott's transfer to the club in 2019. Once add-on clauses are met, Fulham could receive a fee in the region of £4m and have also inserted a substantial sell-on clause, understood to be 20 per cent.
Analysis: Fulham's rising star long destined for the top
Sky Sports' Nick Wright:
"For Fabio Carvalho, the clamour of January's Deadline Day, when Liverpool tried and failed to sign him from Fulham before the 11pm cut-off point, was nothing new. He is only 19 but the biggest clubs in the country have been vying for his signature for years.
"Long before lighting up the Championship with Fulham, Carvalho was causing what Greg Cruttwell, founder and chairman of Balham FC, his first club in England, describes as a "circus" of interest on the 3G pitches and concrete courts of south London.
"Manchester United flew representatives down from Manchester to meet him. Chelsea took him on a tour of their Cobham headquarters. There were meetings with Arsenal and, yes, Liverpool too. "Every club under the sun," Cruttwell tells Sky Sports with a chuckle.
"Carvalho "could have gone anywhere", according to Cruttwell, but he and his family, who had moved to London from Lisbon only a few years earlier, turned down their more prestigious suitors in favour of a move to Fulham in 2015. It is fair to say the decision has paid off."
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