The young Scot is allegedly surplus to requirements in Portugal and he would be ideal for Glasgow Rangers.
The recently appointed Gers boss is making a habit of signing Portuguese-based players but a move for Gauld would see a young Scot return home with plenty of time to justify the initial hype.
Gauld made waves as a teenager on the books at Dundee United, scoring nine goals and providing 12 assists in 51 first-team appearances.
He was subsequently branded the next big thing in Scottish football. However when he did move on it was to the somewhat surprising surroundings of Portugal, with Sporting Lisbon taking a risk on the then-18-year-old by paying £3million for his signature.
As reported by the BBC, Sporting also inserted a somehow ambitious £48million release clause in his contract, obviously hoping he would quickly reach his potential and make them a tidy sum in the future.
Instead he has struggled for game time, featuring only five times for their first-team but still managing two goals and one assist in the process.
Instead he has got used to playing for the B team, 73 times to be exact, and with Sporting seemingly willing to let him go this summer, what chance a move to Ibrox?
Rangers need a Scottish core in their side and Gauld will know now that he made a mistake leaving his homeland so soon.
He could have the chance to put that right and become an integral player for Rangers under Caixinha, if the manager is prepared to use his Portuguese contacts to negotiate a deal for the 21-year-old.
It would be a move that suits all parties, allowing Gauld to make up for lost time, Sporting to move on and Rangers to snag a player once tipped as a future superstar of the game.