Trent Alexander-Arnold will become a Real Madrid player on June 1 after Liverpool accepted a fee to release the defender early from his contract.
Sources at Liverpool have indicated that the fee is 10-million euros, which Real has made as a single, up-front payment.
However, sources at the Spanish club have suggested they have paid a lower amount.
A payment has been agreed to allow the England right-back to join Real in time to play in the Club World Cup.
The 26-year-old would have been able to leave Liverpool on a free transfer when his contract expired on June 30.
Alexander-Arnold, who had already confirmed he would leave Liverpool this summer, has agreed a six-year deal and his contract includes a 1-billion euro buy-out clause.
Fifa approved an additional window for this summer, from June 1-10, allowing teams to register new players for the expanded month-long Club World Cup, which starts on June 14 and is being held in the United States.
Real’s opening group game is against Saudi side Al-Hilal on June 18 in Miami.