The 22-year-old was the subject of a surprise bid from the Cherries on Saturday, with Liverpool accepting their big-money offer.
Smith is now free to discuss personal terms with Eddie Howe’s side, and has decided to enter talks with the club, leaving Liverpool‘s camp at Stanford University in California.
According to the Liverpool Echo‘s James Pearce, Smith will land in the UK on Tuesday with a medical scheduled shortly after, and his move is likely to progress swiftly.
Crucially, Pearce also confirms that Liverpool have negotiated a buy-back clause in their deal with Bournemouth, allowing them to bring Smith back to Merseyside for a set fee within the next two years.
Smith’s departure will leave Klopp worryingly short at left-back, however, with Jon Flanagan also likely to move.
The Reds have accepted a season-long loan bid for the 23-year-old, who is currently mulling over a spell away from his boyhood club.
Therefore, as Pearce details, the German will pursue a move for another left-back this summer.
Aston Villa‘s Jordan Amavi and PSV Eindhoven’s Jetro Willems have been tentatively linked in recent days, though neither seems likely to join the Reds at this stage.
Meanwhile, former Barcelona youngster Juanma has linked up with Michael Beale’s U23s on an initial week-long trial, with the 19-year-old comfortable at both centre-back and left-back.