Liverpool have announced the signing of Luis Diaz from Portuguese side FC Porto.
Tottenham had sought to firm up their interest in the Colombian earlier in the week, but once Liverpool got wind of Spurs' offer, the Reds moved swiftly to secure his services.
"Liverpool Football Club have completed the signing of Luis Diaz from FC Porto, subject to the successful granting of a work permit and international clearance," a statement read on the official Liverpool website.
"The 25-year-old has signed a long-term contract with the Reds after passing a medical and finalising personal terms.
"Diaz will arrive on Merseyside once he has completed international duty with Colombia, who face Argentina in a World Cup qualifier in Cordoba on Tuesday evening.
"He joins Liverpool after two-and-a-half seasons with FC Porto, where he made 125 appearances and scored 41 goals, and will wear the No.23 shirt."
Diaz was a revelation for FC Porto in Liga Bwin this season, scoring 14 goals and providing an additional four assists.
