Claudio Echeverri’s third loan away from the Etihad is finally working, and Benfica are reportedly ready to turn it into a permanent deal worth up to €31m (£26.9m) to Manchester City.
The 20-year-old Argentine struggled to settle during spells at Bayer Leverkusen and Girona. In Lisbon, he is still not a regular starter, but his impact off the bench has been hard to miss.
According to Correio da Manhã, the Benfica board have already decided to trigger the purchase option in his loan. Another Portuguese report agrees the deal is moving the right way, but says the club will not make a formal call until closer to the end of the season.
What has Echeverri done at Benfica?
Not a lot of football, but plenty of moments. Echeverri has played just 267 minutes across six appearances, with only two starts, and he keeps having a hand in goals that matter.
He came off the bench late to assist Gianluca Prestianni in a 3-1 win over Gil Vicente, then set up Sudakov in the 2-0 victory against Vitória de Guimarães. He was involved in two goals against Omonia in the Europa League as well.
His latest cameo came against Alverca on Monday. Benfica were struggling to break their opponents down when Marco Silva sent him on at half-time, and within minutes he had won the penalty that Pavlidis converted for a 1-0 win.
Silva, who has already spoken about keeping ‘El Diablito’ for good, was pleased. He said after the game: “He arrived later than the others and has been improving. He gave the team what it needed and is clearly beginning to understand everything we want from him.”
There is still work to do. Portuguese reports point out that he needs to improve defensively and help keep the team’s balance.
Why Benfica could move quickly
The fixed fee is said to be €21m (£18.2m), with another €10m (£8.7m) in add-ons, and Benfica can activate the clause at any point during the loan.
Prestianni is part of the reason. His form has attracted interest from major European clubs, Paris Saint-Germain among them, and a January exit is not being ruled out despite his €100m (£86.8m) release clause. Locking up Echeverri would give Benfica some cover if they lose another young Argentine.
The two are long-time friends, which helped bring Echeverri to Lisbon in the first place. He reportedly had offers from Premier League, Serie A and La Liga clubs and still picked Benfica, partly because of how Prestianni has developed there.
Does Echeverri want to stay?
It certainly sounds like it. He is said to be happy at the club, comfortable with his teammates and confident he has found the right place to develop, with Silva’s trust a big part of that.
Echeverri said after the Alverca win: “I’m very happy here and I’m trying to make the most of the minutes I get. There’s really good competition here and I’m giving everything to become a starter.”
Asked about staying beyond the loan after the Omonia game, he said: “It would be something beautiful, but step by step.”
Verdict: Echeverri’s sale makes sense for City
When Echeverri joined Bayer Leverkusen on loan in August 2025, the hope was that a year in the Bundesliga would get him ready for City. Two frustrating loans later, the picture has changed, and that is fine.
A sale worth up to €31m for a player Manchester City have now sent out on loan three times is good business, and the reported €50m (£43.4m) buy-back clause keeps the door open if his development continues. City have always watched their young players abroad closely, as they did with Vitor Reis during his La Liga loan.
With Rayan Ait-Nouri already attracting January interest from Man United, Maresca’s squad could look different by the spring. Echeverri leaving for good would hardly be felt in Manchester, and it might just be the making of him in Lisbon.
