Before their Spanish Super Cup semifinal win against Athletic Bilbao in Jeddah, Deco confirmed the wing-back is set to soon put pen to paper.
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Barca are re-signing Cancelo for a second time as he departs Saudi Arabia's Al-Hilal this month.
Deco said, "Hopefully so. We're finalising the process.
"He hasn't had his medical yet, but he'll be flying to Barcelona soon . We're going to close the deal."
Cancelo previously played for Barca on-loan from Manchester City in the 2023/24 season.