Pablo Daniel Osvaldo could be set for a return to Serie A after his proposed transfer to Boca Juniors broke down.
The Argentine striker is back in his home country and was expected to seal a move back to his ex-club when the transfer window opens again in January, but Boca are unable to match Porto's asking price for the 29-year-old.
Osvaldo will therefore return to Portugal for the time being, with his agent Dario Decoud saying that the forward could end up back in Italy.
"Terminating his contract with Porto is not possible and Boca's offer is totally insufficient," Decoud said as quoted by Gazzetta dello Sport. "After the Christmas holidays, Osvaldo will return to Portugal where he will remain until June.
"We have received two interesting offers [from Italy] and the market in Europe closes on Feb. 2, so anything is still possible."
Osvaldo has a Serie A winner's medal for the six months he spent with Juventus in early 2014, while he has also played for Atalanta, Lecce, Fiorentina, Bologna, Roma and Inter Milan in Italy.
The former Southampton forward has been a Porto player since summer 2014, after having spent the first half of the year on loan at Boca.
However, Osvaldo has failed to hold down a regular starting berth for the Dragoes -- scoring just one goal in seven league appearances following a free transfer from Southampton -- and his contract in Portugal expires in summer 2016.
Decoud did not reveal the identity of the two Italian clubs who he claims have shown an interest in the forward.