The Southampton attacker, 32, was released by the Reds when he was a youth prospect, having spent five years with the Liverpool academy in the mid-1990s.
The Englishman then led a journeyman career, representing Blackpool, Macclesfield Town, Stockport County, Rochdale and Bristol Rovers. His stint at Southampton has seen him compete at every level of professional football in England, excelling at every stage.
His form in the past two years with the Saints, where he has demonstrated consistent and proven Premier League ability, culminated in an international call-up to the England squad, for whom he represented four times and scored twice.
Earlier today it had been reported that Southampton and Liverpool had agreed a £4m fee (plus add-ons) over the transfer of Lambert, who is expected to sign on a two-year basis. He could soon be joined by Saints team-mate Adam Lallana.
Commenting on the imminent switch, former Tottenham Hotspur striker and renowned pundit Gary Lineker said: "Seventeen years after being let go by Liverpool and a career climbing back up the football ladder, Rickie Lambert signs for the Reds - great story!"
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Lambert's statistics for the most recent season will not have been the only thing to have swayed manager Brendan Rodgers into ratifying the deal.
While he has a low passing accuracy (under 70%), Lambert is influential when on the ball as he creates 1.46 chances and attempts 2.78 shots with every appearance, whilst he also hauled in ten assists and 13 goals from 37 Premier League outings.
Last season, Rodgers told reporters: "I've seen Rickie Lambert over the years and he's one of the most accomplished footballers."
17 years after being let go by Liverpool, and a career climbing back up the football ladder, Rickie Lambert signs for the Reds. Great story!— Gary Lineker (@GaryLineker) May 30, 2014