Per the source, the Lions have reached an agreement-in-principle with the Reds over the transfer of Lucas.
Turkish clubs listed on the stock exchange must disclose transfer talks to their shareholders before announcing the transfer.
Galatasaray hope to confirm that negotiations are officially underway today. Traditionally statements regarding talks released on the stock exchange are a formality before announcing the completion of the transfer.
The Lions are reported to have entered the final stages of talks with Liverpool and Lucas via his agent.
Lucas is currently out injured for a month with a hamstring injury but that has not put the Istanbul giants off the transfer.
The 29-year-old midfielder would end a nine-year association with Liverpool if he were to leave over the summer.
Lucas would be Galatasaray’s second signing of the season after Bursaspor defender Serdar Aziz if the deal goes ahead.