João Cancelo signals 2026 Benfica comeback if the numbers add up

Portuguese full-back João Cancelo reminded Lisbon on Tuesday that the door leading back to Estádio da Luz remains wide-open in his mind—even if it is still bolted by a lucrative Saudi contract and Benfica’s delicate balance sheet. Supporters who grew up watching the academy graduate fly down the flank have fresh cause for optimism, yet also a clearer picture of the obstacles that must be cleared before any famous homecoming.

Snapshot

Those comments, delivered to international media in Riyadh, did three things at once: they reaffirmed his "huge desire" to wear red again, clarified that his attachment to Al-Hilal extends until 2027, and implicitly challenged Benfica’s leadership to weigh the financial arithmetic against the emotional value of repatriating a crowd-pleaser who will be 32 when the next transfer window capable of freeing him truly opens.

Why Cancelo’s longing resonates in Portugal

Long before the defender became a headline act at Valencia, Juventus, Manchester City and Barcelona, he was a teenager travelling daily from Barreiro to the Seixal academy. He lost his mother in a tragic car accident during that period—an event he often cites when explaining why Benfica remains entwined with his personal history. By repeating that he would «return at 40 if necessary», Cancelo tapped into a widespread nostalgia among Portuguese fans who cherish academy success stories. His words land at a moment when domestic football is debating how to keep stars from departing early and how to lure them back before twilight.

The contract that complicates everything

Cancelo’s permanent switch from City to Al-Hilal in August 2024 cost the Riyadh club roughly €25 M and tied him down until 30 June 2027. Saudi Pro League salaries, rarely disclosed, comfortably eclipse what Benfica currently pays its highest earner. There is no publicly known release clause that could simplify a Lisbon return. In practical terms, Benfica would need either a discounted sale—possible once only one year remains on the deal—or a salary compromise brokered directly with the player, whose market valuation has slipped to around €15 M according to Transfermarkt. Those figures are still heavy for a club that posted a €31.4 M loss in the 2023/24 season.

What Rui Costa has—and has not—said

The re-elected president has praised Cancelo in abstract terms but stopped short of any promise. Publicly, the board’s priority is to stabilise the club’s net debt of €483 M while meeting UEFA’s updated Financial Fair-Play thresholds, which cap cumulative three-year losses at €60 M without fresh capital. Insiders concede that a marquee signing could be justified if paired with profitable outgoing transfers. For now, silence from the director’s box is interpreted as tactical: keep expectations managed until the numbers, and perhaps Al-Hilal’s stance, become friendlier.

The arithmetic of a 2026 reunion

Time itself may prove Benfica’s staunchest ally. Summer 2026 is the point at which Cancelo will have only twelve months left on his Saudi contract, diminishing his transfer fee and bringing the possibility of a pre-contract agreement under FIFA’s Bosman rules in January 2027. Even then, salary demands must shrink. People close to the player hint he is willing to trade earnings for fulfilment, but European suitors with deeper pockets could still intervene. Benfica’s accountant would have to pencil in a signing-on fee, a competitive wage, and the cost of aligning the deal with the wage structure for which new coach Roger Schmidt has repeatedly lobbied.

Between sentiment and spreadsheets

The saga now rests on two variables: the player’s enduring sentimentality and the club’s capacity to engineer enough sporting and commercial success to justify an emotional investment. Cancelo, buoyed by life in Saudi Arabia yet clearly aware of the passage of time, keeps repeating that wearing Benfica’s crest again would complete a career circle. For many supporters in Portugal, the question is no longer whether he wants it—it is whether Benfica can translate that longing into a transaction that satisfies both the heart and the ledger.