RCD Espanyol is reportedly closing in on a loan deal for Gabriel Moscardo, the Brazilian defensive midfielder who has become something of a permanent traveler since Paris Saint-Germain signed him for €20 million in January 2024. Espanyol would cover his salary under the arrangement, which is said to not include a purchase option.

Moscardo, who turned 20 last September, has yet to establish himself at PSG. Instead, he’s been making the rounds on loan, with Espanyol set to become his fourth temporary home since arriving in Paris.

A well-traveled teenager

PSG signed him from Corinthians in early 2024, then promptly sent him back to Corinthians on loan for the remainder of that year. He was then shipped to Reims for the 2024-25 season. Then to Braga for 2025-26, where he managed 23 appearances.

Now Espanyol is next on the itinerary. His contract with PSG runs through June 2028, so the Parisian club still has time to figure out what exactly they want to do with him.

The loan to Espanyol would be a straight temporary deal. No option to buy, no strings attached beyond Espanyol picking up the tab on his wages.

Moscardo wasn’t short on suitors, either. Both Getafe and Real Valladolid reportedly expressed interest in securing the midfielder’s services. But Espanyol appears to have moved to the front of the line, with negotiations described as advanced.

PSG’s youth asset management strategy

The €20 million PSG paid Corinthians for a then-18-year-old was a significant investment. Moscardo was considered one of the most promising young midfielders in Brazilian football at the time.

The absence of a buy option is notable. It signals that PSG still sees potential upside in Moscardo, or at least isn’t ready to write off their investment. Clubs typically include purchase clauses when they’re open to moving on from a player permanently.