The Italian international is busy preparing for his country’s tilt at Euro 16, having been selected in head coach Antonio Conte’s 23-man squad for the finals in France.
But behind the scenes, the player’s agent is working overtime to try and clinch a permanent move away from Sunderland this summer.
Giaccherini spent the 2015-16 season on loan at Bologna, who are anxious to keep him after he scored seven times in 27 league games.
But he has also been linked with Torino, Sampdoria, Lazio and Fiorentina.
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However, any move back to Serie A will have to see Giaccherini take a pay cut, and the playmaker’s personal demands at the minute are proving a stumbling block.
Giaccherini joined Sunderland from Juventus – where he played under Conte – in 2013 but has looked unsuited to the Premier league since his arrival.
He was signed for £6.5million when Roberto De Fanti and Paolo Di Canio were at the helm, and was given a bumper pay increase.
And with Italian football not in the healthy financial state the Premier league is, clubs are unable to match the 31-year-old’s wages.
Sunderland will be hoping the player impresses at Euro 16, which may see more teams look to sign him.
The Black Cats are keen to get Giaccherini off the wage bill to free up more funds for Sam Allardyce, with the midfielder having just a year left on his contract.