Grujic has been a long time target for Liverpool and there were reports that the Reds had already managed to seal the deal for the midfielder a few weeks ago.
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Speaking to Serbian television station Radio Television of Republika Serbian, B92.net reported that Red Star will receive seven million Euros, plus a 10 per cent sell on clause of any future transfer.
Liverpool chief executive Ian Ayre flew out to Belgrade last week to seal the first signing of Klopp’s reign.
The 19-year-old is considered as one of Serbia’s hottest young talents and he came through the youth ranks at Red Star Belgrade before breaking into the first team set-up at the end of the 2012/13 season.
Grujic was also attracting interest from Inter Milan and Chelsea but was persuaded to move to Anfield after being spoken to personally by Jurgen Klopp.
The Serbia under-21 global has bagged five goals in 21 appearances in the SuperLiga this season.
Liverpool will pay €7million to Red Star, who will then return €1million of that fee to keep Grujic in Belgrade for the remainder of the season as they chase another Serbian championship.
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Grujic, 19, will become the German’s first signing at Liverpool, however Klopp will have to wait until next summer to welcome him into the Reds squad.
