The England international arrived at Anfield last summer following the expiration of his contract with the East Lancashire club, having scored 11 goals in the Clarets’ top-flight relegation season.
Ings, a 23-year-old striker, moved under the Bosman ruling but, due to his age and their development of the player, his former club are entitled to a compensation fee.
Negotiations on a suitable amount between the two clubs proved unsuccessful, with Liverpool believed to have offered approximately £4million for the player.
The club’s chief executive Ian Ayre and Dave Baldwin, his counterpart at Burnley, will meet with an independent board at a tribunal in Manchester on Tuesday in order to decide a fee.
Ings, who the subject of an £11million bid from Tottenham Hotspur shortly before his move, has spent much of the season on the sidelines, having suffered a cruciate knee injury in October.
The injury, however, will not be factored into the tribunal’s decision. Burnley are hoping for a fee greater than the £6.5million paid by Chelsea to Manchester City for Daniel Sturridge in 2009, which was also decided by tribunal.
The tribunal’s decision is expected to be made at some point this week.
Register for free to continue reading
Registration is a free and easy way to support our truly independent journalism
By registering, you will also enjoy limited access to Premium articles, exclusive newsletters, commenting, and virtual events with our leading journalists
Already have an account? sign in
Join our new commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies