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.
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