Germany midfielder Emre Can is set to leave Anfield at the end of his contract and been strongly linked with a move to Italian champions Juventus.
Many star names departed and Fabinho was also carrying disappointment after Monaco blocked a move, with Paris St Germain chasing his signature, and as a result Liverpool could be said to have landed a bargain.
Fabinho's new manager Klopp has said: "He has ability and mentality to play at the highest level in a number of positions".
Fabinho, 24, will join up with the Reds squad on June 1 when pre-season begins and arrives with a great deal of pedigree. It's been a few years since he demonstrates his quality.
"He is also very good for someone who comes to a new country, a new city - someone who speaks the same language".
When asked about his future on Monday evening, Fekir gave little away, per FourFourTwo.
Liverpool are lacking the squad depth to properly compete for the Premier League title while also fighting for domestic and European cup competitions.
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Liverpool fans were concerned when the Brazilian left but the team actually managed well enough without him, and now it looks like they could be about to sign his replacement.
The magazine does add that Liverpool are "ahead" in their negotiations to sign Fekir but interest from Madrid and Bayern will complicate matters and could see Lyon drag things out to get more money from the Reds.
But agreement has now been reached with the Premier League club that will see Fabinho join the Reds after the finals in Russian Federation. Liverpool paid £39 million, according to reports from BBC Sport, for the versatile midfielder, which is a price that suggests he has been signed for the starting eleven. Long term targets mean a lot of time has already gone into how they'd fit together.
This past season he scored 23 goals and provided nine assists.
Over the last four seasons Fabinho made himself a fixture in Leonardo Jardim's team, playing a pivotal role in their Ligue 1 title-winning season in 2016-17. No benefit for Lyon to do anything before.