Sao Paulo president Juvenal Juvencio says the Brazilian club may look to sign Denilson permanently.
The 24-year old midfielder is on his second season-long loan away from Arsenal and could be heading for a less temporary switch in the summer.
"It's still too early," Juvencio told Gazeta Esportiva.
"We'll see if we buy him, but not now, rather in the middle of the year."
Denilson joined Arsenal from Sao Paulo in August 2006 and after a promising start, failed to become a regular under Arsene Wenger in North London.
