Portland Timbers forward Jose Adolfo Valencia has reportedly signed with Club Olimpo.

The Argentine club's official website reported that the 21-year old Colombian has signed a season-long loan deal with the option to join permanently suggesting his time with the Timbers has come to a close.

However, there appears to be some confusion as Portland posted on their Twitter page that no deal has been done.

Valencia initially arrived at JELD-WEN Field on loan from Bogota-based Santa Fe ahead of the 2012 MLS season before signing permanently in January this year.

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