Nat Phillips has completed his loan move to Bournemouth, with Liverpool receiving £1.5million for the deal.
The Reds defender has been keen to make a move away from Anfield in search of regular first-team football this month having played just three times this season.
Bournemouth made a deadline day offer to take the 24-year-old centre-back to the Vitality Stadium for the remainder of the campaign, which the Reds were happy to agree to.
Liverpool will earn an initial loan sum of £1.5m with a further £250,000 should the third-place Cherries achieve promotion to the Premier League this term.
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Phillips has been in-demand all month but with Liverpool looking to earn between £12-15m for the defender, they turned down two offers in the region of £7m.
Newcastle - whose offer was a loan with a commitment to make it permanent - and Leicester were just two of what Anfield sources described as "multiple offers".
However, neither appealed to Liverpool or Phillips given that he would be moving to be back up elsewhere.
Burnley had earmarked Phillips as a long-term replacement for James Tarkowski, but the Clarets defender has not moved on from Turf Moor this month.
Liverpool see Bournemouth's situation in the Championship as an ideal chance for Phillips to get regular football at a club who are in search of Premier League status once more.
It is understood that the Reds centre-back was impressed with the pitch made to him by Cherries boss Scott Parker.
Phillips only signed a new four-year deal in the summer, meaning his value will still be preserved later this year and sources feel he may even increase that should he enjoy a strong second-half to the campaign on the south coast.
The Bolton-born defender played a key role in helping the Reds finish in the top three last season during a time when Virgil van Dijk, Joe Gomez and Joel Matip were all laid low with long-term injuries.
However, the respective returns for that trio alongside the £36m addition of Ibrahima Konate over the summer pushed Phillips further down the Anfield pecking order and he hasn't featured in the Premier League since.
Phillips started just one game with the Reds this term, which was the Champions League win over AC Milan in Italy on December 7 when Jurgen Klopp's side were already secured of a place in the knockout stages.
