Liverpool have confirmed that Newcastle have accepted a club-record fee for striker Andy Carroll.
The announcement represents a significant marker in what has been a twisting transfer saga on an incredibly dramatic deadline day of the 2010/11 winter window.
Liverpool failed in two initial bids in the region of £30million, but Carroll then requested a transfer and Newcastle were essentially forced to 'reluctantly' accept.
The striker is now travelling to the North West by private jet in order to discuss personal terms and undergo a medical ahead of an 11pm deadline.
A statement on the club's official website read: "Liverpool FC confirmed this afternoon that Newcastle United had accepted a club record offer for the transfer of Andy Carroll.
"The club have been given permission by Newcastle to discuss personal terms with the player, who will now travel to Liverpool for a medical."
The confusing tug-of-war has emerged as the box-office event of the transfer window as Liverpool presumably prepare to reinvest the funds generated from the potential £50m sale of Fernando Torres to Chelsea.
Carroll is currently recovering from a thigh injury, but, despite relative inexperience at Premier League level, he is viewed as an ideal signing with regards to his age, potential and marketing value.
The 22-year-old made his England debut at the end of 2010 and Liverpool's parent company, Fenway Sports Group (FSG), have decided that he will prove a sound investment in the rebuilding process of the 18-time champions of England.
Ajax striker Luis Suarez is also on his way to Anfield in a £22.8m deal, with the Uruguayan's move set to be confirmed when the formalities of paperwork and a work permit are approved.
Blackpool captain Charlie Adam could be the next player to be moving to Anfield, with Sky Sports News reporting that the midfielder is set to hold talks with the five-time European Cup winners.