The Merseyside giants appear to have pushed Tottenham aside in the race to sign the 25-year-old winger from Porto in the ongoing transfer window.
Diaz was a summer target for Jurgen Klopp but the Liverpool manager pushed for the move now once it became clear the player was ready to move this month.
A €60m deal is in place with Porto and Diaz is keen on the move, but Liverpool are fighting several logistical issues in order to complete the deal.
A team of Liverpool officials will be flying out to Argentina, where Diaz is stationed with the Colombia squad.
Colombia will be in action in a World Cup qualifier against Ecuador later tonight, where Diaz will be involved, while there are in Argentina afterwards.
Liverpool are planning to put the winger through a medical and sort through all the paperwork in the next 72 hours.
They are in a race against time to complete all the paperwork and get a work permit for Diaz to join the Merseyside giants.
It remains to be seen if Tottenham put in a late, late push to try to get back into the race.
