The attacking midfielder, who only turned 16 in April, made his Premier League bow as a substitute for Fulham at Wolves in Ma, having made his debut for the Cottagers as a 15-year-old in the League Cup last September.
An England under-17 international, Elliott was tracked by a host of clubs including Real Madrid, Paris Saint Germain and RB Leipzig before deciding to join the European Champions.
This is according to the Telegraph‘s Sam Wallace, who writes that “there will be a significant compensation package for his former club which will have to be agreed with Liverpool.”
Elliott, who is left-footed and plays primarily on the right-wing, is a boyhood Liverpool supporter.
If and when the deal with Liverpool is confirmed, it is likely he would be part of Neil Critchley‘s under-23 setup.
Speaking of the talented youngster after his debut for Fulham, their captain Tom Cairney said: “He’s been a sensation since he joined in training a few months ago. He doesn’t look out of place and does some bits of magic that everyone says ‘wow.’
“His attitude and his belief in himself at such a young age is frightening. He’s got a great football brain, an eye for goal and is a very entertaining player.”
Liverpool’s only other signing so far this summer is 17-year-old Sepp van den Berg – who arrived from PEC Zwolle and is set to be part of the first-team squad immediately.