According to numerous club sources with knowledge of the situation, the Rapids have signed striker Rafael Navarro from Brazilian side Palmeiras, with a formal announcement expected this week and possibly as early as Monday.
The deal is a year-long loan with the option to acquire Navarro permanently at the end of the loan, which Tom Bogert of The Athletic first reported. Colorado will pay Palmeiras a $500,000 loan fee and if the club opts to purchase at the end of the deal, it would cost an additional $4.5 million. That figure would shatter the previous club record transfer fee of $2.7 million for Juan Ramírez paid in February 2015.
This is not the first time Colorado has dealt with Palmeiras. The Rapids brought in left back Lucas Esteves on an Under-22 Initiative deal for a loan-to-buy in August 2021, and signed Max Alves in another U-22 Initiative deal in January 2022. They did not end up acquiring Esteves for an estimated $1 million fee due to what team sources described at the time as a poor attitude toward training.
Navarro, 23, brings plenty of prowess to Colorado as he scored 11 goals and added four assists in 65 appearances for Palmeiras. He was the Brazilian second-division’s third-highest scorer with Botafogo in 2021, tallying 15 goals and nine assists in 37 appearances. Soon after, he made the jump to Palmiras as a free agent. He played key matches in 2022 Copa Libertadores, the South American equivalent of the UEFA Champions League, with seven goals and two assists across 10 appearances.