Pedro is a candidate for a new contract, and his current agreement runs until the end of 2027. ESPN reports that negotiations for a new deal have not yet started between the parties. However, talks may begin in the coming weeks after the decisive phase of the season.

According to Globo.com, 29-year-old Brazilian centre-forward Pedro and Flamengo are in early-stage talks for a contract extension. Pedro's current contract runs until the end of 2027. The only contact so far occurred just after he returned from a serious knee injury he suffered at the end of 2024. Talks have advanced, but acceptance from president Bap was still pending at that time. Before the injury, Pedro had a verbal agreement with the previous management under Rodolfo Landim. Pedro's last contract renewal was in 2023, and his salary became outdated in comparison to the rest of the squad. In the current 25/26 Série A season, he has scored 15 goals and provided 5 assists in 27 appearances, and he has 6 caps and 1 goal for Brazil. His current market value is €20.00m, according to Transfermarkt, and he has previously been linked with clubs such as Juventus and Ajax.