Reports in Spain indicate that Olympiacos is very close to finalizing the signing of Diego Rico.

Discussions between the parties involved are at an advanced stage, with the final details being worked out with the player’s agent.

According to the new report, José Luis Medilibar has given the “green light” for the 33-year-old left back, who is now the Piraeus club’s top choice for that position.

The contract is expected to run through the summer of 2028.

UPDATE: Olympiacos is one step away from signing Diego Rico.

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Agreement is in the works. All parties are moving forward. Mendilibar has given the go-ahead. Final details are being worked out with his agent.

The Oso option has fallen through. No agreement with Sevilla FC. Rico is the chosen one. Contract through 2028. pic.twitter.com/NI6JADaEQ5

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— Extra Time Fútbol (@extratimeftbol) July 21, 2026

Rico became a free agent after the conclusion of his stint at Getafe, where he made 30 appearances in the league and the Spanish Cup last season. He played a total of 1,964 minutes and received four yellow cards.

The Spanish defender is 1.83 m tall, is left-footed, and, in addition to his natural position on the left side of the defense, can also play as a center back. During his career, he has played for Real Sociedad, Bournemouth, Leganés, and Zaragoza, among others.

The move for Rico came after the deal for Oso fell through, as no agreement was reached with Sevilla. As a result, Olympiacos turned to the experienced Spaniard, with reports from his home country suggesting that the transfer is now just one step away from being finalized.

*photo source: AP