Athletic retains full ownership and the right to recall him
En el mercado de verano, los clubes no solo compran jugadores: negocian futuros. Racing de Santander ha cerrado la cesión del centrocampista vizcaíno Peio Canales, de 19 años, procedente del Athletic Club, convirtiéndolo en el tercer refuerzo de una ventana que comenzó tranquila y se aceleró por la adversidad. La lesión de Arana, más que ningún plan estratégico, fue quien terminó dibujando el perfil del equipo que José Alberto López llevará a la nueva temporada en Segunda División.
- La lesión de Arana rompió el equilibrio de un vestuario que Racing creía completo, obligando al club a salir urgentemente al mercado en pleno verano.
- Varios clubes —Andorra, Valladolid, Granada y Mirandés— competían por Canales, convirtiendo su fichaje en una carrera contrarreloj diplomática entre directivos.
- El director deportivo Chema Aragón convenció al Athletic de ceder al jugador en lugar de perderlo o verlo marchar a un rival, sellando un acuerdo con cláusulas de rendimiento pero sin opción de compra.
- Canales llega como tercer refuerzo del verano junto al portero Andreev y el delantero Villalibre, completando una reconstrucción parcial del equipo tras la salida de diez jugadores.
- Athletic retiene la propiedad total del jugador y el derecho de rescisión anticipada, lo que convierte esta cesión en una apuesta compartida entre ambos clubes por el desarrollo del joven centrocampista.
Racing de Santander ha cerrado la cesión de Peio Canales, centrocampista de 19 años del Athletic Club, como tercer fichaje del verano para la temporada 2025-26. El jugador, natural de Barrika, llega junto al portero Plamen Andreev y el delantero Asier Villalibre, todos ellos en calidad de cedidos hasta junio de 2026.
Canales despertó el interés de varios clubes españoles. Andorra, dirigido por Ibai Gómez, estuvo cerca de hacerse con él junto a su amigo Olavarrieta. Valladolid, Granada y Mirandés también se interesaron seriamente. Fue el director deportivo racinguista Chema Aragón quien se impuso, convenciendo a su homólogo del Athletic, Mikel González, de que una cesión era la mejor opción para el jugador. El acuerdo incluye cláusulas por tiempo de juego y pagos variables por rendimiento, pero no contempla opción de compra: el Athletic mantiene la propiedad y el derecho de rescisión.
El mediapunta puede actuar como diez o como interior en un doble pivote. La pasada temporada disputó ocho partidos con el primer equipo del Athletic bajo las órdenes de Valverde, con dos titularidades. Su llegada responde directamente a la lesión de Arana, que obligó a Racing a acelerar una actividad en el mercado que hasta entonces había sido moderada.
El club ha vivido un verano de intensa rotación: diez jugadores han abandonado el equipo, entre retornos de cesión, no renovaciones y traspasos libres. Con la incorporación de Canales y la promoción de Jorge Salinas desde el filial, Racing completa un bloque rejuvenecido con el que López afronta la nueva campaña en Segunda División.
Racing Santander has landed Peio Canales on loan from Athletic Club for the 2025-26 season, a move that caps weeks of negotiation and competitive bidding among several Spanish clubs. The 19-year-old midfielder from Barrika becomes the club's third arrival of the summer window, following goalkeeper Plamen Andreev and striker Asier Villalibre, both also on temporary deals through June 2026.
Canales had drawn interest from multiple suitors. Andorra, managed by Ibai Gómez, was close to securing him alongside his friend Olavarrieta. Real Valladolid, Granada, and Mirandés had all expressed serious interest as well. But Racing's director Chema Aragón moved decisively, persuading his counterpart at Athletic, Mikel González, to release the player on loan rather than see him depart permanently or join a rival. The arrangement includes penalty clauses tied to playing time and performance-based payments, but notably contains no purchase option—Athletic retains full ownership and the right to recall him.
Canales is a versatile midfielder capable of operating as a number ten or as a box-to-box eight in a double pivot. He appeared in eight matches for Athletic's first team last season under Ernesto Valverde, starting twice. The initial plan at Athletic had been to integrate him fully into senior football, but the club ultimately decided a loan spell would serve him better. His arrival addresses Racing's need for midfield depth following the injury to Arana, which forced the club to accelerate its transfer activity after a relatively quiet start to the window.
Racing has undergone significant roster turnover this summer. Ten players departed the squad that José Alberto López managed last season: five returned from loan spells at other clubs (Karrikaburu to Real Sociedad, Vencedor to Athletic, Meseguer to Real Valladolid, Rober González to NEC Nijmegen, and Pablo Rodríguez to Lecce and then Lech Poznań), while four others—Miquel Parera, Pol Moreno, Lago Junior, and Ekain—were not retained. The club also granted free transfers to Carrascal (Cartagena) and Montero (Málaga), and sent Neco Celorio on loan to Lugo.
Canales' arrival signals Racing's commitment to rebuilding around a younger core. He featured in a preseason friendly against Racing at Muriedas, appearing in the closing minutes. Alongside the loan signings of Andreev and Villalibre, and the promotion of Jorge Salinas from the reserve side, Racing has assembled a squad that López will lead into the new Segunda División campaign. The club had begun the window with confidence in its existing roster, bolstered by long-term contract renewals that López said would leave him with a ready-made starting eleven. The injury to Arana changed that calculus, pushing the club into the market and ultimately delivering Canales—a young talent with upside and the flexibility to fill multiple roles in midfield.
Notable Quotes
The loan agreement contemplates penalty clauses for non-participation and variable payments based on performance, but does not include a purchase option— Athletic Club official statement
The Hearth Conversation Another angle on the story
Why did Athletic finally agree to let him go when they seemed reluctant at first?
They didn't want to lose him permanently. A loan with no purchase option means he stays their property. If he thrives at Racing, Athletic gets him back. If he struggles, they've still got him under contract. It's a low-risk way to give him minutes.
But Andorra was ready to take him. Why didn't he go there?
Andorra was the player's preference, apparently—he had a friend there. But Racing's director pushed harder and faster. Sometimes it's about who moves first and who has the resources to make a deal happen quickly.
What does this say about Racing's season ahead?
They started slow in the market because they thought they had their team set. Then Arana got hurt and suddenly they had to scramble. Canales is young, versatile, and hungry for minutes. He's a bet on potential, not a finished product.
Is he a starter or a backup?
Right now, probably a backup who'll get chances. He's only had two starts for Athletic. But at 19, in a second-tier league, he could develop quickly. The loan structure lets Racing develop him without Athletic losing him if it works out.
What happens if he plays well?
Athletic gets him back a better player. Racing gets credit for developing him. It's mutually beneficial, which is why these deals work.