According to journalist Adrián Esparza Oteo on X, the move for Giorgos Giakoumakis to Atletico Mineiro did not proceed because the player was seeking a contract even higher than his one at Cruz Azul. The journalist also stated that Atletico Mineiro had offered up to 7.5 million USD and that Cruz Azul was willing to sell. Giakoumakis is currently remaining at PAOK on loan.

According to Récord, Atlético Mineiro offered 7.5 million dollars for Giorgos Giakoumakis. A deal between the Brazilian club and Cruz Azul, which holds the player's economic rights, was nearly finalized. However, Giakoumakis rejected the proposal because he was not convinced by the offer.

According to Brazilian media, Giorgos Giakoumakis was on the list of Atletico Mineiro. Uol reports that Giakoumakis stopped a potential agreement between Cruz Azul, which owns his economic rights, and Atletico Mineiro. The report states that although the club submitted a very attractive offer and was close to an agreement with Cruz Azul, the transfer was rejected by Giakoumakis because he is not interested in playing in Brazilian football. Atletico Mineiro had offered $6.5 million, an amount the Mexican club was willing to accept if the player approved the move. However, the approval from the Greek striker was not given, which ended the discussions.

The Brazilian club Atlético Mineiro has presented a €5.5 million offer to the Mexican club Cruz Azul to purchase striker Giorgos Giakoumakis. This comes amid speculation about the 31-year-old Greek international's future, which had previously included rumored interest from Real Oviedo. Giakoumakis, who is on loan at PAOK, is considering the possibility of playing in Brazil. Should he agree to the transfer, the termination of his loan is expected before the sale is finalized. Giakoumakis has 22 caps and 4 goals for Greece and has scored 5 goals with 1 assist in 13 league appearances for PAOK this season. Cruz Azul acquired the striker for a €9.3 million fee in July 2024. In December 2025, the club reportedly set an asking price of approximately €9.5 million. His current loan includes a non-mandatory purchase option valued between €4.5 million and €5 million.