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