Liverpool have been ordered by a tribunal to pay Burnley a £6.5m transfer fee for striker Danny Ings, with a further £1.5m in add-ons.
The decision was reached by the Professional Football Compensation Committee (PFCC) on Tuesday at a meeting in Manchester attended by officials from both clubs.
The £1.5m in additional payments will be based on appearances, while the tribunal ruled Burnley will also receive 20 per cent from any future sale of the player.
A statement from Liverpool said: "Liverpool Football Club would like to thank the PFCC panel for their time and diligence in deciding this matter.
"We believe the process was conducted fairly and we respect the outcome.
"We are pleased for Danny Ings, in particular, that this chapter is now complete and he can look forward to a long and successful career at Liverpool."
Ings arrived at Anfield last summer following the expiration of his contract with Burnley, having scored 11 goals for the Clarets as they were relegated from the Premier League last season.
The potential £8m fee represents a record for a figure set by an English tribunal, eclipsing the amount Chelsea had to pay Manchester City in 2010 for signing Daniel Sturridge.
The Londoners had to pay £3.5m for Sturridge and a further £3m based on future appearances.
Burnley chief executive David Baldwin said: "We acknowledge and accept the tribunal's decision.
"We feel we must reiterate this is an unprecedented record payment for training compensation and not a transfer fee.
"As the initial fee decided by the committee represents almost double the previous record for a tribunal, this fully justifies our decision to press ahead with what we felt was a fair reflection of the part Burnley Football Club played in Danny's development."
After a bright start at Anfield, Ings ruptured his anterior cruciate ligament in October and has been sidelined for the past six months, though the 23-year-old is understood to be nearing a return to full training.