Javier Mascherano will complete a £17.1 million move to Liverpool in the summer.
Mascherano, 23, joined the club on an 18-month loan from West Ham, which expires in June.
Benitez's attempts to buy the player were recently blocked by Liverpool's owners George Gillett and Tom Hicks, adding to the growing tension between the Spaniard and the American duo.
However, after Hicks and Gillett's refinancing package was completed last week, a four-year contract will be formalized in the summer.
Rick Parry, the Liverpool chief executive, and Kia Joorabchian, who heads the Media Sports Investments consortium that 'owns' Mascherano, agreed a deal that should be ratified next week.
Liverpool had hoped to negotiate a lower fee for Mascherano, but with Manchester City monitoring the situation with interest, they had to settle for the sum that had already been agreed with Joorabchian a year ago.
The news of the imminent transfer, which will be the second most expensive in Liverpool's history, will be welcomed by Benitez, who has been rocked by bitter disputes over transfer policy and a run of poor form that has seen Liverpool drop out of contention for the Premier League title.
Mascherano, 23, joined the club on an 18-month loan from West Ham, which expires in June.
Benitez's attempts to buy the player were recently blocked by Liverpool's owners George Gillett and Tom Hicks, adding to the growing tension between the Spaniard and the American duo.
However, after Hicks and Gillett's refinancing package was completed last week, a four-year contract will be formalized in the summer.
Rick Parry, the Liverpool chief executive, and Kia Joorabchian, who heads the Media Sports Investments consortium that 'owns' Mascherano, agreed a deal that should be ratified next week.
Liverpool had hoped to negotiate a lower fee for Mascherano, but with Manchester City monitoring the situation with interest, they had to settle for the sum that had already been agreed with Joorabchian a year ago.
The news of the imminent transfer, which will be the second most expensive in Liverpool's history, will be welcomed by Benitez, who has been rocked by bitter disputes over transfer policy and a run of poor form that has seen Liverpool drop out of contention for the Premier League title.
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