In June 2007, he almost joined ACF Fiorentina, but instead transferred to Liverpool on a three-year contract, with an option for a further two years.

Mihaylov was acquired by Liverpool as a talent, whom might become their first team keeper in the future.
As at that time Liverpool's first choice keeper was Pepe Reina with Charles Itandje as back up.
And by 14 July it became clear that the transfer had hit a problem; Mihaylov would not qualify for a British work permit.
As a consequence the Bulgarian U-21 International joined FC Twente on a one-year loan.

At FC Twente 19-year-old Mihaylov was to compete with Sander Boschker and Cees Paauwe for first team action.
Although not playing any matches for the first team, Twente did recognize his talent and in 2008 they extended his loan with a year to August 2009.
In June 2007, he almost joined ACF Fiorentina, but instead transferred to Liverpool on a three-year contract, with an option for a further two years.
Mihaylov was acquired by Liverpool as a talent, whom might become their first team keeper in the future. As at that time Liverpool's first choice keeper was Pepe Reina with Charles Itandje as back up. And by 14 July it became clear that the transfer had hit a problem; Mihaylov would not qualify for a British work permit. As a consequence the Bulgarian U-21 International joined FC Twente on a one-year loan.
At FC Twente 19-year-old Mihaylov was to compete with Sander Boschker and Cees Paauwe for first team action. Although not playing any matches for the first team, Twente did recognize his talent and in 2008 they extended his loan with a year to August 2009.
Nikolay Mihaylov