Famalicão from Portugal is also interested in Victor Hugo. The transfer window in Portugal is open until September 15, while in Brazil it closes on September 2. Initially, Flamengo agreed to loan the player without financial compensation but maintaining 50% of the economic rights for future profit. Due to negative feedback, Flamengo now insists on some financial compensation, which has stalled negotiations.

Brazilian midfielder Victor Hugo, 21, almost went to Portugal in a loan deal that would have given Famalicão 50% of his rights. However, Flamengo's management withdrew from the deal, and he remained at Flamengo. He has played only one game this season, against Ceará, and is now part of the bench due to injuries to other players. His contract at Flamengo runs until December 31, 2028, and his market value is estimated by Transfermarkt to be €4.20 million.