The Senegal international was again a vital player for the Reds during the 2021-22 campaign, scoring 23 goals and registering five assists in 51 appearances in all competitions.
However, Mane's contract at Anfield is due to expire next June, and there has been a host of speculation surrounding his future over the last few weeks.
Bayern have quickly emerged as the favourites for the 30-year-old, who struck 16 Premier League goals during the 2021-22 season, in addition to netting five times in 13 Champions League outings.
According to Sky Sports News, an agreement between the two clubs has now been reached, with Bayern set to pay up to £35.1m to bring the forward to Allianz Arena.
The report claims that Bayern will pay an initial £27.5m for Mane, with a further £5m based on appearances.
There will also be another £2.5m based on his own achievements during his time at Allianz Arena and also the success of the team.
Mane has been vital to Liverpool's success in recent seasons, and he will leave the Merseyside giants with a record of 120 goals and 48 assists in 269 appearances in all competitions.
The attacker was largely used through the middle in the latter stages of last term, largely due to the form of Luis Diaz, who impressed upon his arrival from Porto.
Liverpool have already boosted their attack this summer, meanwhile, with the arrival of Darwin Nunez from Benfica; Manchester United had been strongly linked with the Uruguay international, who scored 34 times at club level last term, but Jurgen Klopp's side have now secured his signature.
Salah scored 31 goals and registered 16 assists in 51 appearances for the Reds last term, but a disagreement over wages on a proposed new deal is believed to have halted discussions.
Liverpool took Manchester City all the way in the Premier League last season before finishing second, while they suffered a 1-0 defeat to Real Madrid in the Champions League final.
Klopp's side did win both the FA Cup and EFL Cup last term, though, to make it a successful campaign for the club.
Liverpool are now looking ahead to the new Premier League season, which for them begins at Fulham on August 6, but they will first face Man City in the Community Shield at the end of May. body check tags ::