Liverpool are on the verge of making their fifth signing of the summer transfer window after reportedly agreeing a fee with Queens Park Rangers for Loic Remy.

The Liverpool Echo's report states that the Reds have triggered the 27-year-old's £8m release clause and are now preparing to negotiate personal terms. Liverpool manager Brendan Rodgers had earmarked the striker as his top target following the departure of Luis Suarez to Barcelona.

The former Lyon and Marseille star was also believed to be a target for both north London rivals, Arsenal and Tottenham Hotspur. But reports suggested that the Gunners opted to drop out of the race due to Remy's wage demands. The Spurs remained keen but the QPR manager Harry Redknapp revealed that the French international is only keen on joining a club playing in the Champions League next season.

Remy is believed to be demanding wages around £80-90,000-a-week but the Premier League runners-up have reportedly asked him to keep his demands realistic. The Merseyside club are due to fly out for the pre-season tour to the USA and Rodgers is hoping that the deal will go through swiftly without any problems.

Rodgers wants Remy to be able to join up with the squad as soon as all the formalities are completed this week. The 41-year-old Northern Irishman was also reportedly interested in raiding his former club Swansea City for Wilfried Bony but is facing a hefty £20m price-tag to procure his services.

Reports also suggest that Liverpool have agreed to sell Fabio Borini to Sunderland for £14m, where he was on a season-long loan. Remy too spent the previous campaign on loan at Newcastle United and scored 14 goals in 26 appearances.

"They've offered to buy Fabio. He obviously spent a successful period at Sunderland last year and it's a fantastic club. There's an agreement between the clubs but nothing agreed with the player. At this moment he's still a Liverpool player," Rodgers explained.

Remy's arrival will take Liverpool's expenditure on signings to over £65m following Rickie Lambert, Emre Can, Adam Lallana and Lazar Markovic. Rodgers has already revealed that more players are likely to arrive at Anfield owing to the additional £75m available from Suarez's sale.