Liverpool have confirmed Sebastian Leto has signed a loan deal with Greek outfit Olympiacos for the coming campaign.
The 21-year old midfielder had his work permit application refused last week, meaning the Reds have been left with no option but to loan him out.
Contrary to reports yesterday suggesting a two year contract had been agreed, Leto's contract with Olympiacos runs until June 30, 2009 - meaning it is effectively a one season deal.
"Olympiacos is a challenge for me," he said. "I've had two weeks of pre-season training with Liverpool and I believe I will be ready to do whatever I have to.
"Olympiacos are a great team who challenge for every honour in Greece and in the Champions League. The team has some good players, a well known coach and fanatical supporters which always inspires them."