Just like fellow Millo old boys Aimar and Saviola the ex-Bayern man is in the Argentine club's plans, although a director admitted that a transfer was not an option
The Millonarios are currently second in the Nacional B, and sit in the automatic promotion places after their historic relegation in June following a play-off defeat at the hands of Belgrano. River are looking to strengthen their squad ahead of a final push for an immediate return to the Primera, and have already announced the signing of David Trezeguet.
Speaking on Tuesday, board member Daniel Mancusi revealed that he was in contact with Demichelis, who started his career with the club before moving to Bayern Munich in 2003.
"I have spoken to 'Micho' recently but as [Malaga] purchased him recently, we will not bring him in because we would also have to offer a permanent deal," Mancusi recognised in an interview with Radio Cooperativa.
"He told me that he would like to come, but we will opt to pursue offer negotiations at this time.
"All of the players who are River's prodigal sons, for example people like Pablo Aimar, Andres D'Alessandro, Javier Saviola and many more."
Demichelis lifted four Bundesliga titles and was a Champions League runner up with the German club, before falling out of favour with management and moving to Spain at the start of 2011.