Rayo loan Atletico's Costa
© AFP

Rayo Vallecano have signed Brazilian striker Diego Costa on loan from neighbours Atletico Madrid.

Costa, who will be presented later today after passing his medical, will join until 30 June, after which he will return to Atletico as Rayo do not have an option to buy.

The 23-year-old re-joined Atletico from Real Valladolid in 2010 having previously played for various clubs on loan, including Braga, Celta Vigo and Albacete.

Promoted Rayo are 13th in the Liga standings, three points above the relegation zone.