Madrid - Ever Banega is to be loaned out by Valencia to Atletico Madrid for one season, according to sports daily Marca on Thursday.
Atletico will pay all of the salary of the Argentine midfielder - who helped his country to win the gold medal at the Beijing Olympics - and will have an option to buy him at the end of the season.
Atletico powered their way into the Champions League on Wednesday with a 4-0 thrashing of German side Schalke 04.
Banega, 20, has failed to impress at Valencia since being signed from Boca Juniors in January 2008, and is not part of the plans of new coach Unai Emery.
Emery is keen to reduce the size of the bloated Valencia squad from 32 to around 24, which means that several other players will be loaned out before the close of the summer transfer window on Sunday night. (dpa)