Watford have signed out-of-contract Liverpool striker Jerome Sinclair on a five-year contract.
The Reds would have been entitled to compensation - usually decided by a tribunal - as Sinclair is just 19 but the clubs have managed to come to an agreement which will see the Merseysiders receive £4million.
In a statement Liverpool said: "His registration would have been subject to compensation in the form of a development fee.
"However, following amicable and professional discussions between Watford and Liverpool, the clubs have reached an agreement regarding a transfer."
Liverpool have signed Sadio Mane from Southampton in a deal reportedly worth around £30 million, it has been announced.Read the full story ›
Liverpool and Manchester United have been fined £30,565 each - half of which has been suspended - for illicit chanting by their fans during March's two-legged Europa League clash.
The Reds were fined a further £12,995 for the offences of setting off of fireworks, throwing of objects, crowd disturbances and a late kick-off and ordered to contact United within 30 days for the settlement of the damages caused by their supporters at Old Trafford.
United were fined £13,751 for the offences of blocking stairways, crowd disturbances and the throwing of objects.
Uefa's control, ethics and disciplinary body announced 50 per cent of both clubs' fines for illicit chanting were suspended for a probationary period of two years.
UEFA has opened disciplinary proceedings against Liverpool and Sevilla following the Europa League final in Basle on Wednesday night.
The charges laid against Liverpool are for crowd disturbances and the setting off of fireworks, and Sevilla for crowd disturbances and the throwing of objects, UEFA has announced.
The case will be dealt with by UEFA's control, ethics and disciplinary body on July 21.
Germany coach Joachim Low has suggested Mario Gotze find himself a new club this summer.
Gotze has been given limited time at Bayern Munich this season, with coach Pep Guardiola preferring other players.
While Guardiola is leaving this summer and being replaced by Carlo Ancelotti, Low nevertheless believes a change of scenery would do the 23-year-old Germany forward good.
"In general, I would say that a transfer can release new energy," Low told the Suddeutsche Zeitung newspaper. "A new environment, new surroundings, new motivations.
"Just look at how Toni Kroos has come on. He was a top player at Bayern already, but he has taken another leap in Madrid."
Gotze, who has a year left to run on his contract in Munich, has been linked with former club Borussia Dortmund, Juventus and Liverpool, and Low says the player should focus on who he would be working for rather than where he will ply his trade.
"He needs a coach who desperately wants him in his team, but that is not in any way a criticism of Bayern or of Pep Guardiola," Low added.
Jurgen Klopp will begin the post-mortem into Liverpool's Europa League final loss to defending champions Sevilla by taking a long look at his own performance before that of his team.
Liverpool lost 3-1 despite having led through a brilliant Daniel Sturridge strike as they fell apart in the second half , with neither the players nor their manager able to do anything to halt the decline.
It was a chastening experience for all but particularly Klopp who, having inspired a remarkable comeback against Borussia Dortmund in the last eight, has now lost his last five finals.
His credentials are not in question as the progress made since he took over from Brendan Rodgers in October is evident but that will not stop the German analysing himself - before turning the spotlight on his squad.
The first thing you have to do when you look at the man in the mirror is criticise yourself. As manager of the team all I have to do is self-criticise, nothing else.
It is all about us, all about me. It is my job to help the players to react in different situations better. I can improve a lot.
Here's how the Liverpool players fared on a disappointing Europa League final that started with such promiseRead the full story ›
Liverpool have lost the Europa League final after a second-half collapse against Sevilla, who won the trophy for a third consecutive seasonRead the full story ›
Brendan Rodgers has emerged as odds-on favourite to take over at Celtic as the club step up their recruitment process.
The former Liverpool manager recently hinted at his potential interest in succeeding Ronny Deila and Celtic are believed to have followed up on that willingness to talk.
Reports now claim that the Northern Irishman is the number one target. However, it is understood that Celtic have a long list of candidates and they are going through the recruitment process methodically.
It is understood that former Watford and Cardiff manager Malky Mackay, a former Celtic player, was interviewed last week.
Former Celtic midfielder Roy Keane has also been heavily linked with a post which he turned down before Ronny Deila accepted the position two years ago.
The Republic of Ireland assistant manager later described the offer as the "right job, wrong time" after feeling Celtic could have done more to make him feel wanted.