By Merseyside correspondent Cam Downes

Lazar Markovic has agreed to join Fenerbahce on loan as Liverpool continue their squad overhaul, Football Insider sources understand.

The 21-year-old is set to finalise a season-long switch to the Turkish club within the next 48 hours after an agreement was reached between the two clubs.

Markovic will spend the season at Fenerbahce if he passes a medical and completes other formalities, although it is understood that Liverpool want the Serbian midfielder to return to Anfield when the loan is competed.

Markovic has not figured in any of Liverpool’ opening three matches of the new Premier League campaign after a mixed first season with the club following his £20million transfer from Benfica 12 months ago.

Brendan Rodgers has preferred the likes of Adam Lallana, Roberto Firmono and teenager Jordan Ibe to Markovic, who plays in a similar attacking midfield role.

The Merseysiders believe the prospect of more game time in Turkey will prove of greater benefit to Markovic’s development than a season on the margins of Rodgers’ team.

Markovic becomes the third of Liverpool’s signings in the summer of 2014 to leave the club either on loan or permanently, following Rickie Lambert, who has signed for West Brom, and Mario Balotelli, who rejoined AC Milan on loan earlier this week.

The Balotelli move was the best offer available to Liverpool, who would have preferred a permanent deal. By contrast, the Premier League club want Markovic back in the first-team squad next summer.