He joins them from Russian side Rubin Kazan, subject to passing a medical.
“It was a tough job sealing the accord because Nelson is a highly valued player at Rubin,” Valencia sporting director Braulio Vazquez said.
“He is a very important player for us because he is a forward who fits very well with the players we have.”
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Liverpool have unveiled their new home kit for next season, sticking with the hugely popular retro styling of the current shirt.
The reputation of the Premier League means it is the most popular and one of the most watched leagues in the world.