Rayan in action in 2025

Tottenham target Rayan sees bid rejected as Vasco demand €50m

Adem Ozcan Last updated: Dec 25, 2025, 3:43 pm
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Image: IMAGO / ZUMA Press Wire

Tottenham target Rayan remains at the centre of the Brazilian transfer agenda after Vasco da Gama rejected another approach for the highly-rated attacker — this time from Zenit.

The update was reported by journalist Venê Casagrande, who outlined both the structure of the proposal and Vasco’s firm response.

Zenit proposal rejected

According to the report, Zenit submitted an offer worth around €31m as a fixed fee, payable in four instalments, plus up to €4m in bonuses.

Those add-ons were linked solely to team achievements, including:

  • €500,000 for winning the Russian league
  • €250,000 for lifting the Russian Cup

The bonuses would have applied across all seasons Rayan spent at the club, with a capped maximum.

Vasco da Gama rejected the proposal outright and reiterated their stance: negotiations will only begin at €50m.

It was also noted that the approach came via intermediaries authorised by Zenit, rather than through Rayan’s official representatives. Despite the rejection, expectations in Brazil are that Zenit could return with an improved offer.

Player camp selective on destination

Further insight came from club insider Joel Silva, who added that Rayan and his representatives are not open to a move to Russia, Portugal or Turkey.

Their focus is firmly on top-tier European leagues and clubs. In that context, Zenit would only be considered if Vasco’s €50m valuation was met in full. Silva also suggested that for a “European giant”, Vasco could be willing to negotiate at a lower figure.

Spurs still involved as Premier League interest grows

Tottenham Hotspur remain firmly in the picture, although it was Crystal Palace who reportedly made the first enquiry last week.

Premier League interest is expected to carry weight, and Rayan has even been loosely linked with Real Madrid in recent months.

At just 19 years old, Rayan is navigating an increasingly complex market. Vasco are holding their ground, the player’s camp are highly selective, and interest across Europe continues to grow — with destination now proving just as important as price.

Key Insight

  • Vasco have rejected Zenit’s €31m + bonuses proposal for Rayan.
  • The Brazilian club are holding firm on a €50m valuation.
  • Rayan’s camp are ruling out moves to Russia, Portugal and Turkey.
  • Tottenham remain interested, with Crystal Palace also making enquiries.
  • Premier League interest is seen as the most realistic pathway.

What’s next?

Zenit are expected to consider a counter-offer, but their chances remain slim unless they meet Vasco’s full valuation.

Tottenham and other Premier League clubs are likely to continue monitoring the situation closely, with January shaping up to be decisive. As interest builds and Vasco hold firm, Rayan’s future could become one of the most intriguing stories of the window.

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