Giorgi Mamardashvili has now signed his contract with Liverpool and an official announcement is expected imminently.
The Reds had been holding talks with Valencia about securing the goalkeeper, who they see as a long term replacement for Alisson.
With no suggestion Alisson is going now, Liverpool have agreed to loan Mamardashvili back to Valencia to see out the season.
They will then decide next summer whether to loan the goalkeeper again or bring him to Anfield.
Mamardashvili is though now officially a Liverpool player as he has signed his contract, according to Spanish outlet Relevo.
The shot-stopper’s move to Liverpool has been completed.
Liverpool are expected to make an official announcement imminently to confirm the arrival of the goalkeeper.
Valencia are delighted to have Mamardashvili still at the club for a further season, while they are also banking €30m plus €5m in add-ons.
Mamardashvili’s contract at Liverpool runs until 2030.
