Philippe Coutinho's contract with Vasco is valid until the middle of the year. According to ESPN, there is no internal consensus regarding his stay for the remainder of the year. Multiple sources report that the board is divided on a potential renewal offer, with members in Vasco's upper management being both for and against it.

According to Globo.com, Vasco has initiated discussions to renew Philippe Coutinho's contract. The contract is currently set to expire in June of this year. The midfielder is engaged in ongoing negotiations with the club's football department to extend his contract at least until the end of the year. The club's expectation is to secure a deal that runs until the end of 2026. Coutinho wants to remain at the club, as his family is settled in Rio de Janeiro and he is happy at São Januário.

According to ESPN, 33-year-old Brazilian attacking midfielder Philippe Coutinho has informed Vasco that he will either renew his contract in the middle of next year to stay at the club or he will end his career. The Vasco board is interested in Coutinho staying for a longer period but has not yet begun renewal talks. Vasco and Coutinho are set to meet at the season's end, following the match against Corinthians, to decide whether he will continue until June 2026 and then retire, or if they will negotiate a new contract extension. The former Brazil international has 68 caps and 21 goals for his country. He joined Vasco in July 2025. His current market value is €3.50m, according to Transfermarkt.