Following the Reds’ defeat in the Champions League final, Milner was uncertain whether he had played his last game for the club.
With his contract due to expire on July 1, the veteran midfielder scheduled talks with the club over a possible extension, while also attracting offers from elsewhere.
Despite having turned 36 in January, Milner has remained an important player for Jurgen Klopp, making 39 appearances this season, while his influence off the field is vast.
This is despite being required to take a “significant wage cut,” with “more lucrative offers” guaranteeing him two years coming in from two clubs in the Premier League and one MLS franchise.
Milner shook hands on his new terms over the weekend and an official announcement is imminent, becoming the first to put pen to paper at Anfield this summer.
Liverpool are also hoping to tie Mohamed Salah down to a new contract, though the process of negotiation will be much tougher when it comes to the record-breaking No. 11.
Joyce claims that Joe Gomez, whose terms expire in 2024, is also due to hold talks over an extension this summer, while decisions will be made on Roberto Firmino, Naby Keita and Alex Oxlade-Chamberlain, who as it stands would all be free to leave in 2023.
Meanwhile, Sadio Mane is also into the final year of his contract next month, but with no intention of staying the 30-year-old is attracting bids from Bayern Munich.
Their first offer, a derisory £21 million with a potential £4 million in add-ons, has already been rejected.