Monaco midfielder John Arne Riise has signed a five-year contract with Liverpool but a transfer fee is yet to be fixed by the two clubs.
"I have signed a five-year contract with Liverpool after agreeing personal terms and undergoing a medical with the club this afternoon," the Norwegian international said today.
"However, this is not the end of the matter because for the deal to be finalised, Liverpool and Monaco have to agree on a transfer fee for me.
"The Liverpool manager Gerard Houllier is now in Monaco negotiating with representatives from my current club and I hope they will agree a deal by the end of today," he told icons.com.
Riise, 20, has struggled to hold a regular place with Monaco this season after joining the club in December 1998.