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Liverpool's statement read: "Liverpool Football Club are devastated by the tragic passing of Diogo Jota.
Liverpool FC will be making no further comment at this time and request the privacy of Diogo and Andre’s family, friends, teammates and club staff is respected as they try to come to terms with an unimaginable loss.
"We will continue to provide them with our full support."
Information on the incident was provided by local police, who said per the BBC: "The information we have so far is that the car, which was a Lamborghini, was in a road traffic accident and left the road due to a tyre blowout while overtaking.
"It was in the early hours, 00:30 BST, in the municipality of Cernadilla in the province of Zamora.
The car caught on fire, and the two occupants were killed."
A number of Premier League clubs have taken to their social media channels to pay tribute to Jota, who helped Liverpool win their 20th league title in May.
Manchester City wrote: "Everyone at Manchester City is shocked and saddened to learn about the devastating news regarding the passing of Diogo Jota
We send our heartfelt condolences to his family and friends and everyone at Liverpool Football Club at this difficult time
Rest in peace, Diogo."
While fellow Merseyside club Everton commented: "Everyone at Everton is deeply saddened by the tragic passing of Diogo Jota and his brother André Silva
Our thoughts are with their family and friends at this sad time."
Jota's final game for Liverpool came in May in a 2-2 draw with Crystal Palace, a day in which the Reds lifted the Premier League title.
The Portuguese international played 26 times in the league last campaign, scoring six goals
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