According to The Athletic, Liverpool are set to beat Tottenham to Diaz's signature, with the fee potentially reaching as much as €60m (£50m) with add-ons included.
The 25-year-old is understood to possess an €80m (66.6m) release clause in his existing Porto deal, and the report adds that he is holding out for a move to Anfield despite interest from Spurs.
Diaz has struck 16 goals and set up six more in 28 appearances across all competitions this term, including 19 contributions in 18 Primeira Liga outings.
The former Barranquilla man is currently on international duty with Colombia, who resume their World Cup 2022 Qualifying campaign against Peru on Friday. body check tags ::