Everton’s £12.5m Midfielder Linked With Racing Club Loan Return: What Should The Toffees Do? | OneFootball

Carlos Alcaraz arrived at Everton with genuine promise, yet the 2025/26 campaign never gave him the platform to prove it. According to Argentine outlet DSports Radio, Racing Club de Avellaneda are monitoring a potential loan deal for the 23-year-old midfielder, provided Everton show willingness to negotiate. Journalist Ariel “Hachita” Ludueña confirmed that Alcaraz has stayed in regular contact with Racing president Diego Milito, while journalist Fernando Czyz indicated that Everton would be prepared to hear a proposal.

No advanced talks exist between the clubs as yet, but the noise out of Argentina shows there is intent behind the move. The player, whom Everton signed permanently for €15m last summer after initially joining on loan from Flamengo in February 2025, carries a current market value of around €14.5m with a contract running until June 2027.

He made 21 appearances this season, contributing one goal and one assist, numbers that reflect a campaign defined more by cameos than consistent involvement. Alcaraz spent time at Racing Club between 2017 and 2023, making 83 senior appearances before his move to Europe via Southampton. That bond with his boyhood club remains strong, and Racing, still under Milito’s watch, appear willing to use every connection available to bring him back, even temporarily.

What realistically happens this summer for Everton?

BURNLEY, ENGLAND – DECEMBER 27: Carlos Alcaraz of Everton arrives at the stadium prior to the Premier League match between Burnley and Everton at Turf Moor on December 27, 2025 in Burnley, England. (Photo by Molly Darlington/Getty Images)

In my view, a loan feels like the most sensible and realistic outcome here. Everton spent £12.5 million on Alcaraz permanently and watched him contribute sparingly across a full season. Selling him already would represent a poor return and likely trigger a loss, especially with his value sitting around €14.5m. A loan back to Racing, where he first made his name, gives him regular football, restores his confidence, and keeps his resale value intact.

Moyes already has a congested midfield, and if Alcaraz cannot break into the starting eleven at a mid-table Premier League side, loaning him out is the logical move rather than letting him rot on the bench for another season. Everton hold the contract advantage, so the terms would entirely favour the club. Racing gets their man temporarily, Alcaraz gets his rhythm back, and Everton preserve an asset that still has time to develop. The smart call for Moyes is to let him go, trust the process, and reassess in twelve months.