Liverpool are expected to sell Serbian midfielder Marko Grujic to Porto for £ 10.5million and Nigerian striker Taiwo Awoniyi to Union Berlin for £ 6.5million.
Grujic, 25, spent last season on loan at Porto, making 28 league appearances and eight Champions League appearances for them.
Awoniyi, 23, scored five goals in 22 games on loan at Union Berlin from the German Bundesliga last season.
Liverpool have negotiated 10% sell clauses in both deals.
Grujic became Reds manager Jurgen Klopp’s first signing at the club when he joined Red Star from Belgrade in January 2016 for £ 5.1million.
He made 16 appearances for Liverpool, while spending loan spells at Cardiff City, Hertha Berlin and Porto.
Awoniyi, who joined Liverpool in August 2015, did not play for the club and was only obtained a work permit play in the UK in May.
He was loaned to FSV Frankfurt, NEC Nijmegen, Royal Excel Mouscron, Ghent, Mainz and Union Berlin while in Liverpool.