The summer transfer window may be closed, but speculation surrounding Rodrygo future at Real Madrid is still alive.

The Brazilian forward was heavily linked with a move away, most notably to PSG, but no deal materialised, meaning he will remain at the Bernabéu — at least for now.

Conflicting reports on PSG’s interest

Rumours of PSG’s pursuit were muddled. Foot Mercato’s Josué Cassé claimed the French champions were not seriously considering Rodrygo at this stage, while Sky Sports Germany’s Florian Plettenberg suggested that both PSG and Liverpool have been monitoring the 23-year-old.

He also noted that Tottenham Hotspur, despite speculation, have not entered the race.

For PSG, Rodrygo could still become a live target later this season depending on how Luis Enrique reshapes his attack.

But with the Ligue 1 champions already heavily stocked in forward areas, their approach may hinge on future departures.

Guardiola’s admiration for Rodrygo and City’s potential move

The latest twist comes from Spain, where Fichajes report that Pep Guardiola has long admired Rodrygo, seeing him as an ideal fit for Manchester City’s left flank.

With City eager to maintain their dominance in both the Premier League and Champions League, Guardiola reportedly views Rodrygo as a player who could elevate his system even further.

Madrid’s stance is clear: Rodrygo will not be pushed out. The only scenario in which they would consider a sale is if the player himself requested a move and an offer of around €80 million arrived.

City, according to the report, are open to meeting that valuation, particularly as they keep tabs on Savinho, another forward option.

What happens next?

For now, Rodrygo is staying put, but the speculation won’t go away. Real Madrid see him as part of their long-term project, yet the player’s role under Carlo Ancelotti will be closely watched this season.

If game time or responsibility doesn’t match his ambitions, the Brazilian could be tempted by the prospect of a fresh challenge.

With PSG circling, Liverpool quietly observing, and Guardiola pushing City’s interest, the next 12 months could prove decisive in shaping Rodrygo’s future.