Liverpool have announced that Daniel Pacheco has joined La Liga side, Atletico Madrid, on a season-long loan deal.
The 20 year-old spent last season on loan at Norwich City where he made six appearances, scoring two goals in the process.
The deal will run until June 30 2012 when the youngster will join back up with the Reds.
Liverpool are understood to be in the running to bring back former striker, Craig Bellamy, from Manchester City, as they look for back up to Luis Suarez and Andy Carroll.