It is thought the Anfield club have managed to avoid making that commitment and won the race for Morientes because the striker was keen to join Liverpool.
He is understood to have agreed a four-and-a-half year contract in principle and was due at Anfield for a medical today. Reportedly flying in the opposite direction will be Everton's Thomas Gravesen, who is set to complete a £2m move to Real Madrid.
The 28-year-old midfielder is in the last year of his contract at Goodison Park and has been allowed to speak to other clubs since the beginning of the month.
He wants European football and Everton would prefer to cash in now rather than lose him for nothing in the summer.
Manager David Moyes is understood to be considering Portsmouth's Amdy Faye as a replacement.