It is understood that talks between Liverpool and representatives of Mario Balotelli have progressed well - with the striker arriving at the club's training ground this afternoon to complete the deal.
However the deal has not been concluded in time to have the striker available to play Manchester City on Monday.
A fee of £16m has been agreed between the Reds and AC Milan - with just the personal terms to overcome.
Crowds have gathered at the club's Melwood training base in hope of being the first to hear the news, or even better, catch a glimpse of the 24-year-old.
Pictures appearing to show Balotelli at Melwood have begun circulating on Twitter.
Liverpool are understood to be ready to offer the former Manchester City striker a £90,000-a-week, five-year deal - however it is understood the Merseyside club are also seeking assurances over Balotelli's behaviour.
The striker has a well deserved reputation for causing problems both on and off the pitch and Liverpool are keen to limit these distractions - particularly having just let one of the most controversial players in Premier League history depart for Barcelona in the shape of Luis Suarez.
Mario Balotelli: The funniest stories
Mario Balotelli: The funniest stories
When a youngster asked for an autograph outside Manchester City's training ground, Balotelli demanded to know why the boy was playing truant. After the child revealed he was being bullied, Balotelli drove the boy and his mother to the school in question so he could tackle the bully himself. He demanded to see the headmaster to make him aware of the issue and then mediated between the two boys to resolve the problem. A source said: 'Mario feels strongly about bullying.' Read the full story here.
After gambling at Manchester's 235 Casino, Balotelli walked away with winnings of £25,000. Feeling generous, he gave a homeless man 'with ginger dreadlocks and a beard' £1,000. Click here for the full story.
3/17 Parking fines
During his time in Manchester, Balotelli racked up £10,000 in parking fines and had his white Maserati impounded 27 times. Once he was pulled over by the police who wanted to enquire why he had £5,000 in cash on his front seat. Balotelli reorted: 'Because I am rich.' Click here for the full story.
Balotelli was 'bored', so threw darts at Manchester City youth team players to pass the time. Click here for the full story.
Balotelli explained prior to Euro 2012 how he would deal with racists: 'I will not accept racism at all. It's unacceptable. If someone throws a banana at me in the street, I will go to jail, because I will kill them.'
In a pre-season friendly for AC Milan, two fans ran onto the pitch to demand a selfie with the striker. Rather than shy away like most would in such a situation, Balotelli was more than happy to oblige.
Mario isn't a one trick pony. He can also iron, dance and read - all at the same time. Click here to watch.
For reasons never fully explained, Balotelli once sported a chicken hat. Thankfully it was a trend that never caught on.
Getty Images; Sky News
A bright spark at the body that co-ordinates firework safety material enlisted Balotelli soon after it was reported that some had been set off in the bathroom of his Manchester mansion.
10/17 Why always me?
The day those stories emerged, Balotelli scored for City in the Manchester derby, giving him the perfect opportunity to reveal *that* t-shirt.
11/17 The Queen
The Queen may be wary of Balotelli's return to England. During the World Cup, he said he wanted a kiss from Her Royal Highness should Italy do England a favour by beating Costa Rica. Thankfully for everyone involved, they didn't.
During a Europa League defeat to Dynamo Kiev, Balotelli had to be substituted in the 57th minute with his face swelling up. It emerged afterwards that the Italian is allergic to some types of grass.
During an Inter Milan press conference to announce the appointment of Andrea Stramaccioni as interim-manager, Balotelli interrupted proceedings to say hello. He was enjoying a day-off from Manchester City at the time. Click here to watch.
Balotelli's naked torso was to be one of the defining images of Euro 2012 - but he's not overly keen on celebrating goals. 'I don't celebrate goals, I'm just doing my job,' he infamously said. 'Does a postman celebrate when he delivered the mail?'
Balotelli has always appeared to be well loved by his team-mates. Perhaps it's the pranks he plays, like this one on Edin Dzeko. Click here to watch.
Balotelli was reportedly questioned by police in Italy when he was found taking a look around the grounds of a women's prison in Brescia. Apparently he simply fancied having a look. Click here for the full story.
Balotelli's relationship with former Manchester City boss Roberto Mancini was a complicated one. It has been described as a father-and-son type relationship - only the sort where they fight each other during training.
EAMONN & JAMES CLARKE
Talks are understood to have been held yesterday over the proposed contract and continued today.
If Balotelli was to be available to play against his former side on Monday night he needed to be registered by midday on Friday - a deadline that came just a little too soon.
It now seems the striker will be available for Liverpool's game after that - against Tottenham next Sunday.
Balotelli said his goodbyes to team-mates and staff at AC Milan's training ground yesterday.