The starlet is en-route to Merseyside where he is expected to complete his transfer to Anfield, pending routine tests and confirmation he can obtain employment in the UK
Ovaciondigital.com reports that the 20-year-old Uruguay international defender is on his way to England after being allowed by his club who could earn a reported €4.5 million (£3.9m) from his sale after accepting an undisclosed bid.
Coates, who on Wednesday said he preferred a move to Liverpool over Manchester City, will likely have to wait a little longer before a transfer is confirmed, with his club waiting to obtain a letter from the English side ensuring that he will get a work permit.
It is expected a deal could be finalised in the coming days should he pass a medical and receive permission from UK authorities to play in the country.
Coates was one of the best players in the recent Copa America, which he won with Uruguay. The centre-back was also named Young Player of the Tournament, an award which it is hoped will help facilitate a work permit application despite him not meeting the requirements for international games played.
The defender also parted with a farewell message for Nacional's fans ahead of his proposed move to Anfield.
"For the fans I can only give words of gratitude, they have always treated me fantastically and supported me in the hardest times," he told the club's officia website.
"I will wear the Nacional jersey again, however, and I hope when this happens I get the same great backing."