Liverpool have completed the signing of Benfica winger Lazar Markovic, signing the Serbia winger to a long-term deal.
Benfica confirmed they had sold their 50 per cent share in Markovic to the Premier League runners-up for €12.5million earlier on Tuesday.
Liverpool have now announced that they have bought the player outright, after he passed a medical and agreed personal terms at Anfield.
"I am very happy that I have joined such a great club," said Markovic. "I hope that I will fulfil the expectations of the supporters, coaches, players and all connected to the club.
"The Premier League is the strongest league in the world, and so I am very happy to be here."
Manager Brendan Rodgers also declared his delight at securing the 20-year-old, who had long been linked with a move to the Merseyside club after an impressive season at the Estadio da Luz.
"This is an exciting signing for us and one that improves our squad, in terms of attacking options, for the coming season," said Rodgers.
"He was hugely impressive for Benfica last season and has proved he has the ability to produce the goods in European competition as well, which will be important for us.
"He is the sort of character who is hungry to get better and progress; this is what we look for in players."
Markovic moved to Benfica from Partizan last June, and played a major role as the Lisbon side completed a domestic treble by winning the Primeira Liga, Taca de Portugal and Taca da Liga.
However, the versatile forward missed Benfica's UEFA Europa League final defeat to Sevilla after being sent off for his involvement in a touchline fracas in their semi-final win over Juventus.
Anfield boss Rodgers will hope Markovic's arrival at Anfield can help offset the loss of Luis Suarez, who is set to sign a five-year contract with Barcelona this week.
An estimated £75m deal has been agreed between Liverpool and the Catalan giants, though Suarez will be unavailable to play for Barca until late October after being hit with a four-month global ban for biting Giorgio Chiellini.
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