Portsmouth have received a potentially encouraging update on Gustavo Caballero, with the winger’s representative saying the plan is for him to remain in European football.
Caballero is due to return to Santos following the end of his loan at Fratton Park. However, Diego Serrati has now made it clear that a stay in Brazil is not the preferred long-term outcome.
Speaking to Paraguayan radio station Urbana Sports, Serrati said: “Gustavo Caballero has to return to Santos, but our idea is for him to continue in Europe. We are working on that.”
That does not amount to a commitment to Portsmouth. It does, however, keep the Championship club firmly involved in the discussion.
John Mousinho has already made it clear internally that he would like Caballero back for the 2026/27 season.
Portsmouth still have an opening
Gustavo Caballero’s contractual situation means Santos remain in control of the next step.
Portsmouth previously had an exclusive route to a permanent transfer, but that expired. They have since been trying to negotiate fresh terms with the Brazilian club.
Recent reports placed Santos’ asking price at £2.5m (€2.9m). Portsmouth were said to be looking for a discount, while the Brazilian side preferred to wait.
Santos believed Caballero’s involvement with Paraguay at the World Cup could strengthen their negotiating position. That expected boost did not fully materialise on the pitch.
Paraguay reached the round of 16 before losing to France, but Caballero played only a total of 94 minutes during the tournament, featuring for 29 minutes against France and 65 minutes against Germany.
His representatives are still working to secure another European move, which should offer Portsmouth some encouragement. Caballero has already adapted to English football and knows Mousinho’s demands.
The uncertainty comes from the wording of Serrati’s statement. The priority is Europe rather than Portsmouth specifically.
That leaves room for the player’s camp to consider other approaches. Previous reports have mentioned attention from elsewhere in the Championship and from Scottish clubs.
Portsmouth therefore remain a credible destination, and perhaps the most natural one. They no longer have the process under their control, though, and will need to reach an agreement with Santos before another European club moves first.
