However, that fee will be offset by their move for Hoever, who will go in the opposite direction for a deal worth £13.5m. Liverpool will receive a guaranteed £9m, with a further £4.5m in add-ons.
Liverpool also insisted on a 15 per cent sell-on clause for a player who was highly-regarded by coaching staff at Melwood.
According to the Athletic's James Pearce, the Reds youngster is keen to move away from Anfield in search of first-team football.
"Juventus and Atletico had also shown interest. LFC disappointed to lose him but felt it was a deal that suited all parties. 15% sell on," Pearce tweeted.
Meanwhile, Jota's arrival is likely to mean the end of Divock Origi's time at Liverpool.
According to the Times' Paul Joyce, Origi is now likely to leave the club.
Having become somewhat of a cult hero at Anfield, he is set to end his six-year spell at the club.
The Belgian signed a long-term contract extension a little over twelve months ago, but he is likely to receive limited game-time this season.
Brighton and Fenerbahce have been linked with a move for the 25-year-old, although official discussions are yet to begin with any potential suitor.