The report claims that the Sunderland winger has been heavily linked with a permanent switch to Torino this summer, but now Fiorentina have joined the race for his signature.
Giaccherini joined the Black Cats from Juventus in 2013, signing a four-year deal at the Stadium of Light.
He featured in 24 Premier League matches in his debut campaign at the club, yet his struggles to adapt to English showed during an injury-hit second season where he managed just eight league appearances.
Giaccherini joined Bologna last summer on a season-long loan deal, and his solid performances in Serie A prompted a place in Italy’s 23-man squad for the European Championships this summer.
Sunderland are seemingly content to allow him to leave this summer, though boss Sam Allardyce may now be reluctant to see him leave on the cheap following his latest performance for Italy.
The 2006 World Cup winners began their Euro 2016 campaign with a superb 2-0 win over Belgium, with Giaccherini starring for Antonio Conte’s men and opening the scoring with a close-range finish.
The report claims the 31-year-old’s display for Italy will only have enhanced his reputation, and Fiorentina are the latest to show an interest with sporting director Pantaleo Corvino a big fan of the player.
The Florence based side finished fifth in Serie A last season, qualifying for the Europa League.