Pedro Bicalho

In July 2025, the player reportedly joined Qarabağ from Palmeiras on a free transfer. By December 2025, his Transfermarkt value was reported at €1,000,000 amid interest from Botafogo, who had two offers rejected by Qarabağ for being too low financially; the second reported offer was a loan with an option to buy. By January 2026, as AEK Athens' interest emerged, his reported Transfermarkt value had increased to €1,500,000.

Our valuation for Pedro Bicalho is driven by his rising market value, strong interest from multiple clubs including AEK Athens and Botafogo, and his club Qarabağ's strong negotiating position. Qarabağ's rejection of multiple offers from Botafogo and their demand for a higher fee, combined with the player's long contract until 2028, indicate a valuation significantly above his reported Transfermarkt figure.