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Olympiacos look set to sign Watford right back Juan Carlos Paredes, according to reports in Greece.

The Greek giants have just agreed to loan out Omar Elabdellaoui to Hull City in order to join up with his former manager Marco Silva. Olympicaos are now set to fill the void left by Elabdelloui by signing the out of favour Watford defender.

Sport24.gr report Watford have agreed to loan Paredes to Olympiacos, and the Greek side will have an option to buy him in the summer.

It’s become clear the South American is frozen out by Watford manager Walter Mazzarri, and the player will be able to kickstart his career in Greece.

The 29-year old joined Watford from Granada back in 2014, but has been unable to make an impact since his arrival in England. The Ecuadorian right back has only played one game for the Hornets this season, which came in the EFL Cup clash with Gillingham.