The Spanish stopper is currently a free agent after being released by Barcelona over the summer, and has been heavily linked with a move to the Reds in recent weeks.
A serious knee injury blocked a switch to Monaco, but the Merseysiders are believed to be ready to gamble on the 32-year-old after growing frustrated with the form of Simon Mignolet.
Valdes is understood to have agreed personal terms with Liverpool, with a thorough medical the final hurdle to leap.
The Premier League runners-up are keen to ensure that the experienced ‘keeper has fully recovered, with a big contract for a player with fitness concerns seen as a stupid move by chiefs at Anfield.
It’s expected that the examination will take place in the coming two weeks with the player almost match ready, with Valdes free to sign for any club at any time due to his unattached status.
Mignolet is rumoured to be in line to keep his starting berth at first, with the presence of the ex-Barca ace one designed to keep him on his toes.
Valdes has won just about every prize available to him at both club and international level during a glittering career.
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