Philippe Coutinho’s second spell at Vasco da Gama formally ended on 30 June when his one-year loan from Aston Villa expired. The 33-year-old midfielder has returned to the Premier League side, but neither party expects him to stay in Birmingham. People familiar with the talks say Coutinho is negotiating an early termination of his Aston Villa contract, which still runs until June 2026, so he can sign a permanent deal with Vasco. If Villa resist, the Brazilian club will seek a new loan as a fall-back option. Aston Villa, who missed out on Champions League qualification, are looking to cut payroll and do not figure the former Liverpool and Barcelona playmaker in Unai Emery’s plans, increasing the likelihood of a mutual release. Coutinho has enjoyed a revival in Rio de Janeiro, making 44 appearances and scoring eight goals across all competitions since July 2024. In the 2025 campaign alone he has contributed five goals and three assists in 26 matches, performances that have convinced Vasco to push for his continued presence.