BBC Sport overnight confirmed rumours in Liverpool that a deal was set to be done for Cahill, eight years to the day since he joined the Merseyside club from Millwall.

A statement from Everton this morning added: "Tim will move to the Red Bulls for a nominal fee, subject to agreeing personal terms and passing a medical.

"He will travel to the US in the next few days."

Cahill, 32, played a minimal role in Everton's campaign last season and suffered a long goal drought, with a relatively poor return in front of goal compared to previous seasons.

Although a long-time favourite of Everton boss David Moyes, a move away from the club has been expected during the off-season, with the player also linked to clubs in the Middle East.

A move to the Red Bulls would see Cahill - who still has hopes of going to the Brazil 2014 World Cup if Australia qualify - teaming up with former Arsenal legend Thierry Henry who is club captain.

Cahill has made 278 appearances for the club, scoring 68 goals, since joining Everton for £1.5 million from Millwall

The transfer  would free up funds for Everton to sign of out of favour Steven Pienaar from Tottenham Hotspur, after his successful loan spell last season.

Today New York Red Bulls insisted the deal was not yet done, despite the speculation.

They added: "We are aware of Everton’s statement regarding midfielder Tim Cahill and our club.

"However, we have no comment at this time regarding him or any other non-New York player."