PAOK is currently engaged in advanced negotiations with German club FC Augsburg to secure the return of Greek international left-back Dimitris Giannoulis to Thessaloniki. While a final agreement has not yet been reached, sources indicate that communication between the two clubs has significantly improved as of late July 2026, leading to a sense of optimism within the Greek club.

The primary obstacle in the negotiations remains the stance of Augsburg CEO Michael Strill, who is seeking a higher transfer fee, using previous offers from Coventry and Olympiacos as benchmarks. Conversely, PAOK management has stated that they will not increase their current offer, as it already exceeds their initial budgetary planning for this window. Currently, Giannoulis continues to train with the Augsburg first team but has notably been excluded from recent friendly matches, suggesting a potential departure.

PAOK aims to finalize the deal promptly to ensure the player can be registered on the team's European squad list. Besides this transfer, the club is also working to acquire a midfielder to bolster their roster before the upcoming season begins.