Arezo Returns to Peñarol Ahead of Copa Libertadores Campaign

Peñarol has secured a key reinforcement for the second half of the season: Matías Arezo is returning to the club from Gremio on loan until December, with an eye on the upcoming Copa Libertadores knockout stages.

The Uruguayan forward rejoins the Carbonero in a deal that includes a $500,000 loan fee, to be paid upfront. According to DSports journalist Gonzalo Ronchi, the agreement also includes a non-mandatory purchase option of $4.5 million for 60% of his rights—$1 million more than what Gremio paid to acquire him.

This will mark Arezo’s second spell at Peñarol, where he previously netted 22 goals in 40 official appearances, leaving a strong legacy. Under coach Diego Aguirre, he becomes the third reinforcement of the window, following the arrivals of Jesús Trindade and Emanuel Gularte.

With Arezo back, Peñarol bolsters its attacking power and makes a statement of intent as it prepares for the decisive stages of the Libertadores. They will face Racing Club in the Round of 16 of the continental competition.