The PFCC tribunal set a guaranteed compensation fee of £1.5 million, plus £2.8 million in contingent amounts dependent on player performance.
The club has given the following response: “Liverpool Football Club respects the outcome of the PFCC’s fair and thorough process in this matter.
“We would like to thank the panel for their time and diligence in reaching a decision.
“We now look forward to welcoming Harvey back from his loan spell with Blackburn Rovers in the summer and helping him continue to build towards a long and successful career at Anfield.”