The Reds last night announced a £7.7million transfer had been agreed in principle, subject to the necessary documentation.
A report has claimed the Spanish federation (RFEF) has put a hold on the deal because Liverpool negotiated with an agent who was not the player's official FIFA-licensed representatives.
However, Liverpool have been diligently working on the deal for several weeks and Press Association Sport understands they are not concerned by claims it will be halted by the authorities.
The Reds' hierarchy are "perfectly relaxed" about their role in the transfer as they believe it is an issue for the player and his various representatives to sort out and insist there is no suggestion of impropriety on their part.
Suggestions Celta are furious about the way the deal has been handled are not supported by their announcement of the deal.
"The club would like to express their sincere thanks to the player for his unparalleled commitment and dedication and courage with which he defended the blue shirt from his childhood as Iago joined Celta when he was eight years old," said a statement on celtavigo.net.
"His performance and contributions have been extraordinary and Iago is already part of the history of this club, an entity he carries in his heart from a very young age.
"The club wishes him great success in his new career in the Premier League."
No one from the RFEF or Celta Vigo was available for comment.
- Sports & Recreation