Everton were thought to be leading the race to sign the shot stopper and Ospina himself recently hinted on the possibility of the transfer to the Tofees.
Super Deporte however reports that Valencia are set to leapfrog Everton in the race to sign the former Nice goal tender, with Los Che manager Nuno Espirito Santo understandably planning a loan swoop for the goalkeeper.
Ospina may find it difficult to get Arsene Wenger’s nod as Arsenal’s number one goalkeeper this season following the arrival of Petr Cech from Chelsea.
Arsenal may also be unwilling to let Ospina leave the club permanently after spending just one season at the Emirates following his transfer last summer.
The idea of a loan deal thus becomes a more attractive option for the Gunners who still have Wojciech Szczesny as a cover for Cech.
Ospina has three years left to run on his Arsenal contract and has stated that he is happy in London; however he would fancy his chances of regular first team football with Everton where Tim Howard and Joel Robles are the club’s only two recognized keepers.
Ospina dethroned Szczesny last season as number one and had a stellar performance for the Gunners for majority of the second half of the campaign last season.
He also had a decent showing with his native Colombia at the just concluded Copa America held in Chile.