The 33-year-old is believed to have verbally agreed a mammoth contract with the Saudi Pro League side, who are managed by Liverpool legend Steven Gerrard.
Despite initial claims that Henderson was set to turn down a reunion with Gerrard in the Middle East, the Reds captain is now alleged to have given the green light to a £700,000-a-week contract.
While Al-Ettifaq have agreed personal terms with the England international, he remains contracted to Liverpool until 2025, and the Reds have ruled out terminating his deal and letting him leave for free.
It had been suggested that Liverpool would accept a bid in the region of £10m for Henderson — who earns approximately £190,000 a week on Merseyside — but according to The Athletic, Anfield chiefs have since rubbished those claims.
The report adds that Liverpool are still waiting for Al-Ettifaq to submit their opening proposal, and the Reds have noted down the £20m that Al-Hilal paid Chelsea for Kalidou Koulibaly as a benchmark.
Should Gerrard's side fail to agree a price with Liverpool, there is every chance that Henderson could remain at Anfield, where he remains in Jurgen Klopp's plans for next season.
However, the 33-year-old could struggle for regular starts in the 2023-24 campaign, as Alexis Mac Allister and Dominik Szoboszlai are expected to slot straight into the midfield trident.
Liverpool brought in the duo after losing Naby Keita, Alex Oxlade-Chamberlain and James Milner on free transfers, while Arthur is now back at Juventus following his forgettable loan spell.
The Reds could field an entirely new-look midfield next term, though, as number six
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