Peñarol Executes Option to Buy Matías Arezo from Grêmio

Uruguayan club Peñarol has decided to exercise its purchase option for striker Matías Arezo, who was on loan from Brazilian side Grêmio. The club will pay approximately $3.5 million (around R$ 17.7 million) to make the transfer permanent, confirming an internal decision made during a meeting on Tuesday, June 16.

Peñarol must finalize the payment before the option’s June 30 deadline and is currently working out new contract terms with the 23-year-old forward. Arezo has scored nine goals in 23 appearances for Peñarol in 2026 and helped the team win the Uruguayan Super Cup this year.

Grêmio, which originally signed Arezo from Granada in July 2024 for €3 million, recovers part of its investment through the sale. The Brazilian club had loaned Arezo to Peñarol through December 2026, but the Uruguayan side chose to activate the purchase clause early.

The deal also involves River Plate of Uruguay, which holds 50% of Arezo's economic rights. River has been seeking half of the transfer fee from Grêmio, including an unpaid $100,000 installment tied to the original loan. The club has sent a formal notice to Grêmio and has threatened to escalate the matter to FIFA, which could impose a transfer ban if the debt is not resolved within 45 days.

Peñarol management has stated that the $400,000 loan fee for Arezo in 2026 is included within the $3.5 million purchase price. The club aims to complete all formalities quickly to secure Arezo's long-term services.