FC Porto contacts Santi Giménez over potential transfer from AC Milan

Santiago Giménez’s time at AC Milan has gone about as well as a parachute that opens on landing. Barely 18 months after arriving at San Siro in a deal worth an estimated €32-37 million from Feyenoord, the Mexican striker finds himself on Milan’s transfer list, and FC Porto is already on the phone.

Porto has opened discussions with both Milan and Giménez’s camp about bringing the 25-year-old forward to Portugal. The two clubs are far apart on structure: Porto wants a loan with an option to buy, while Milan would prefer a clean sale at a price between €20-25 million.

A personal touch from Porto’s dugout

What makes Porto’s approach notable is how hands-on it has been from the top. Manager Francesco Farioli has personally reached out to Giménez to lay out his vision for the striker’s role in the squad.

Giménez’s agent, Rafaela Pimenta, is handling talks on the player’s side. Pimenta’s involvement signals that Giménez’s camp is taking Porto’s interest seriously, even if the conversations are still described as being in their early stages.

From Rotterdam hero to Milan afterthought

Milan came calling in February 2025, and the move looked like a logical step up. The Serie A giants paid a substantial fee and locked Giménez into a contract running through June 2029.

The 2025-26 season has seen Giménez struggle to carve out regular playing time, let alone replicate the form that made him such a hot commodity in the Netherlands. Limited minutes and limited goal contributions have pushed him to the periphery of Milan’s plans, to the point where the club has actively placed him among their summer transfer candidates.

Milan paid upwards of €30 million for Giménez. Now they’d reportedly accept €20-25 million to move him on.

The deal structure standoff

Porto’s preference for a loan with an option to buy limits their financial risk on a player whose recent output hasn’t matched his price tag. Milan, on the other hand, needs to recoup some portion of their original investment, and a sale in the €20-25 million range would accomplish that, even if it represents a loss.

The compromise, if one materializes, could involve a loan with an obligation to buy rather than an option, essentially a deferred purchase that gives Porto some breathing room on cash flow while guaranteeing Milan an eventual fee.

What this means for all parties

For Giménez, at 25, another season of sitting on Milan’s bench would do far more damage to his career than a move to a club that actually wants to build around him. Farioli’s personal outreach suggests Porto isn’t just interested in filling a squad spot.

For Milan, the asking price of €20-25 million already reflects the reality that the original transfer hasn’t delivered the expected return.

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