The youngster revealed he has two Premiership suitors as he prepares to leave his home country, but the presence of his Celeste team-mate tips the balance in favour of the Reds
Reports from England and Uruguay link the defender, 20, with a £7 move to Kenny Dalglish's team, with officials from Nacional affirming that they had accepted a bid to release their most precious young gem. Manchester City are also in the chase, although they are yet to table a formal bid.
Speaking after a training session on Tuesday evening, Coates recognised that both English giants hoped to bring him across the Atlantic, but the Reds held a clear advantage at the current time.
"The offer [from Liverpool] arrived, and Manchester City's is on the way... [Liverpool] are a club with great tradition and history in English football. Besides that, Luis [Suarez] is there, which would be a great help to me," the youngster told Ovacion.
"The offer pleases everyone involved, maybe that is why it is being said that the transfer is already a fact."
Asked about the influence of the Uruguay No. 9 on his decision, the defender affirmed that having a compatriot at his side in England would be invaluable.
"I have talked to him. He got in touch with me and we chatted for a good while," he explained.
"He told me how the club is. It is important because he is slowly winning the fans' affection and scoring lots of goals, it is going great for him and that is brilliant for me because I am another Uruguayan who is going to the club."
Coates is currently still in Nacional's first-team plans, and vowed to keep appearing for the Montevideo giants until a transfer is finalised - an event expected in the coming days.