The Brazil international has had somewhat of a whirlwind past few seasons, leaving AC Milan to return to Brazil with Corinthians before joining Sao Paulo on loan until December 2015.
Pato has remained an excellent goalscorer despite his fall from fame, netting 37 times in 94 appearances in all competitions for current loan club Sao Paulo.
However, in a fresh report by TMW, the Italian publication now claim Corinthians president Roberto de Andrade has revealed a deal in principle with Liverpool has been struck for January.
"There is an agreement in principle with Liverpool for the transfer in the coming weeks. Pato had long expressed a desire to return to Europe. Liverpool await, there are a few missing details, but Klopp will have a new reinforcement and for Pato the Premier League will be a new springboard," the report states.
Liverpool already have somewhat of a Brazilian contingent on Merseyside with Lucas Leiva and attacking midfielders Philippe Coutinho and Roberto Firmino in their ranks.
Pato boasts plenty of pace, skill and drive and his style of play would coincide well with new boss Jurgen Klopp’s mentality of hig- pressing quick football.
Pato, 26, has plenty of time left on his side to make his mark in Europe and a player of his ability may not be available elsewhere for such a cut price. Naturally, though, Liverpool will have to be wary of his injury record.