Racing Club are looking to strengthen their forward line in 2011 and will look towards Europe in order to do it, with Benfica youngster Franco Jara a loan target for La Academia.
Racing and Benfica enjoy a close working relationship dating back to the transfer of Jose Shaffer, and the Portuguese giants are also committed to bringing young left winger Jose Luis Fernandez across the Atlantic.
With an estimated $2.5m deal said to be close, Ole report that Racing officials want to take advantage of the spirit of cooperation and bring 22-year-old striker Jara back to Argentina, albeit on a short term agreement.
"We are in negotiations and we will see what happens. We know that [Jara] is not being used much and here he would be a sure starter," Racing vice president Pablo Podesta told Record.
"He is a great player and he showed all his potential at Arsenal de Sarandi. We would love to have him on board."
Jara signed for Benfica from Arsenal de Sarandi in June 2010, for a fee reported to be as high as €5.5 million. His opportunities to start have been limited however, and the forward has made just 13 appearances off the bench in Portugal.