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UPDATE: While there are still indications from the Sounders that the deal has yet to be complete, Montero's dad says his son is heading to Colombia to finalize his contract with Millonarios.
The most recent report of out Colombia is that Fredy Montero is still a Seattle Sounders player, but will be loaned to Millonarios for 2013 with an option to buy. The report claims that Montero will join Millos on January 10th to train for the league season and the Copa Libertadores.
Sounders FC have yet to make an official statement on the long rumored deal. That could be because it is far from done, or they are just waiting on simple paperwork at any of multiple levels.
This deal as rumored is one of the more complex loans from an MLS team to another league. So the details when everything is public will be rather important. While Allocation Money earned from the deal will never be made public the question of if Allocation Money is earned is rather important. The one year loan makes it nearly certain that the Designated Player tag will be available for Adrian Hanauer to use to find a new player.