Liverpool have opened talks with Feyenoord over a deal to bring Arne Slot to Anfield and made a first bid.
Slot quickly emerged as a leading contender to replace Jurgen Klopp, who will leave his position as manager at the end of the season.
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talkSPORT understands that Feyenoord want around £8.6million for Slot and he does not have a release clause in his contract.
Klopp announced his decision to step down in January and Liverpool have been sounding out possible replacements.
Liverpool have now entered into negotiations with the Eredivisie club, and Slot has made it clear he wants to join the Premier League side.
Dutch journalist Marcel van der Kraan told talkSPORT: “I’ve got full confirmation that talks are going on. There are also very strong signals that things are moving. Richard Hughes is in contract with the CEO of Feyenoord.
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“Feyenoord have received a first off of several million pounds, over £5m, but that would not be enough.”
He also added that the deal could be done by the weekend.
The 45-year-old has won two trophies since arriving at Feyenoord in 2021.
He led them to the Eredivisie title last season and lifted the club their 14th KNVB Cup.
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Slot is a highly-rated manager in Europe and was even Tottenham's top choice last summer.
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He actually turned Spurs down to stay in the Netherlands before penning a new contract. The north London club eventually turned to Ange Postecoglou.
talkSPORT reported on Monday that Sporting's Ruben Amorim is not viewed as a likely candidate to take over at Anfield when Klopp leaves this summer.
Wolves boss Gary O'Neil is also not in the running despite reports to the contrary.
Liverpool are currently second in the Premier League and look to win another league title for the outgoing Klopp.
If they win the Merseyside derby on Wednesday, which is exclusively live on talkSPORT, they will go level on points with top place Arsenal.