According to British media talkSPORT, Liverpool and Frankfurt reached a principled agreement on Ekitic's transfer.
The Reds agreed to pay an initial transfer fee of £69 million, plus an additional clause linked to the team and player performance.
Liverpool Director Richard Hughes and Frankfurt Director Marcus Klescher negotiated last weekend to close the deal.
It is understood that Ekitic has reached personal terms with Liverpool on a six-year contract.
Previously, Newcastle's offer of £65 million for Ekitic was rejected. When Newcastle quoted, Frankfurt executives were unwilling to give in to the valuation of 100 million euros.
When he made his mark in Reims in 2021, Ekitic was hoped to become a future French star, but failed to fulfill his talent and had few playing time after transferring to Paris. However, he scored 22 goals in various matches last season in Frankfurt, which put him in the horizons of Liverpool and Newcastle.
The Reds are looking for a new forward, as Nunes has been listed for £59 million.
Liverpool once told Newcastle that they are willing to pay Isaac a record 120 million pounds. However, Newcastle valued Isaac at £150 million.
As Newcastle refused to make concessions, Liverpool turned to Ekitic and hoped to close the deal immediately.
If Ekitic joins Liverpool as expected, the Reds will spend more than 250 million pounds this summer.
After Arnold's transfer to Real Madrid, Liverpool brought in new right-back Flynnon for £29.5 million. Liverpool then signed Wiltz for a British record of 116 million pounds. Kolkz became the next new player with a transfer fee of £40 million.
Whether Liverpool will introduce Crystal Palace captain Gee after selling youth training player Kanssa to Leverkusen remains to be seen.