Benfica are ready to sell Simao Sabrosa to Liverpool, providing the European champions meet their asking price.
Liverpool tried to land the Portugal international over the summer and appeared to have struck a deal with Benfica.
A fee of £10 million had purportedly been agreed before Benfica pulled the plug on the transfer, just before the close of the transfer window.
The Reds remain on Simao's trail, with manager Rafa Benitez still striving to bring in a player to feature on the right wing.
Reds chief executive Rick Parry admitted after Simao had played against Manchester United in the UEFA Champions League that a new bid could be in the pipeline in January.
Parry is likely to glean encouragement from Benfica's latest stance, which suggests they have set a fee for Simao.
Benfica president Luis Filipe Vieira confirmed that he will not block Simao's exit, on the proviso his demands are met.
Vieira told Record: "Some day, Benfica will have to say farewell to Simao.
"We have a gentleman's agreement."
It is understood that Benfica are now willing to accept €18 million (£12 million) for the winger and that could be within Liverpool's reach.
The Portuguese giants are happy to settle for that amount, as it will give them a profit on the €12 million (£8 million) they paid Barcelona four years ago.