By North-west correspondent Alex Stevens

Liverpool are set to settle the fee they will pay for Danny Ings within the next 48 hours, Football Insider sources understand.

An independent tribunal committee will decide at a hearing starting in Manchester on Tuesday what Liverpool must pay Burnley following Ings’ transfer to Anfield in the summer of 2015.

The Premier League giants and the Championship club will make representations to the hearing as the panel prepares to sift through numerous statements, independent player analyses and other evidence before confirming the fee.

The two clubs held extensive talks over the fee last summer but could not reach an agreement. Burnley valued the 23-year-old at around £10million, and claim that interest from Tottenham, who reportedly made a £12million bid, last summer should help their case. Liverpool’s valuation is closer to £6million.

The England international moved to Anfield upon the expiry of his contract last summer, but the Merseysiders will have to pay compensation to Burnley and his former club Bournemouth for training costs in accordance with Fifa rules for players aged under 23.

A well-placed source has told Football Insider there is no guarantee that a decision will be reached on Tuesday, although Liverpool are hopeful that the situation will be resolved this week.

Burnley have expressed their confidence that the Ings fee will dwarf the tribunal record £6.5million fee that Chelsea paid Manchester City for Daniel Sturridge in January 2010.

“The reason it is different to the ordinary is this tribunal claim will be the biggest in history,” Burnley chief executive David Baldwin told a fans forum last month.

“The key to this was that we bring the claim against Liverpool, therefore we had to prepare an extremely robust case.

“You’re talking a documentation bundle of probably in excess of 400 or 500 pages with witness statements, evidence, analytics about player performance, the statement as to why we make a judgement as to what we believe the player is worth, compared to what Liverpool want to offer.”

In other Liverpool transfer news, the club are preparing for the summer exit of a 28-year-old who has been on the fringes of the first team.