The former Villarreal shot stopper has been signed to stand in for Iker Casillas and provide competition to the Spaniard after he recovers from injury.
Lopez had failed to get substantial game time this season for Sevilla, with Andres Palop ahead of him in the pecking order.
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Liverpool have unveiled their new home kit for next season, sticking with the hugely popular retro styling of the current shirt.
The reputation of the Premier League means it is the most popular and one of the most watched leagues in the world.