The Portuguese worldwide has now been posing for photos in the new Liverpool kit and it's been confirmed that Jota will wear the No.20 shirt this season after it was vacated by Adam Lallana.
Jota left Molineux before kick-off against Stoke in the Carabao Cup on Thursday and was an unused substitute at the weekend in the 2-0 win at Sheffield United.
Club chairman Jeff Shi said of a notable capture: "Ki is a young player who can play both centre-back and right-back, with high potential to become a top footballer".
It remains to be seen if Liverpool remain in the market for further attacking players after signing Jota, though it could be argued that with Rhian Brewster and Divock Origi potentially leaving, the former Wolves star is coming in as a back-up for striker Roberto Firmino.
The newspaper claims Liverpool will pay an initial £41m with a further £4m in add-ons due to Wolves based on appearances and how well the Merseysiders do in the Premier League and in Europe over the coming years. However, the net outlay for the Merseyside club is around £30 million, with Wolves paying them £9 million plus £4.5 million in bonuses for Hoever.
With some early comparisons to Virgil van Dijk, Liverpool will be hoping to make some decent money off of Hoever if and when he makes the move away from Wolves in the future.
He has told Wolves' official website: "I'm really excited to join such a big club like Wolves and to play in the Premier League". All of my path since I was a kid and now, to join a club like Liverpool - the world champions - is just unbelievable.
"I think Diogo is going to the right place and we wish him all the best, knowing that it will never be forgotten, especially by our fans, all the memorable moments that Diogo provided".