Borussia Mönchengladbach is reportedly close to re-signing former defender Ko Itakura in a surprising move. The Japanese international is slated to undergo a medical examination on Wednesday after Gladbach finalized an agreement with Ajax Amsterdam. According to Sky Germany, the transfer fee stands at a guaranteed €3.5 million for the 29-year-old, with an additional €500,000 potentially accessible through performance bonuses. Ajax will also retain a percentage of any future sale as part of the deal.

This transfer represents a noteworthy development in the market, particularly as Gladbach sold Itakura to Ajax for a reported €10.5 million guaranteed just last summer. Get German Football News subsequently reported that the package could ultimately rise to approximately €12 million.

After just one year, Borussia is poised to bring back the same player for less than half the fee they originally received. If Itakura passes his medical, he is set to fill the gap left by Nico Elvedi, who is expected to join Leeds, in Eugen Polanski’s central defense. The Japanese defender is likely to partner with Kevin Diks, as Gladbach swiftly addresses a position that quickly became one of their most critical needs in this transfer window.

A Notable Return to Gladbach

Itakura’s first stint at Borussia-Park lasted three seasons, following his acquisition from Manchester City in 2022. The defender made a significant impact in the Bundesliga, amassing approximately 80 competitive appearances for the club. His value was evident right from the start.

Injuries and suspensions during his initial season highlighted the extent to which Gladbach’s defensive setup relied on him, while his technical skills allowed head coach Gerardo Seoane to experiment with his placement in midfield.

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Itakura showed particular synergy with Elvedi, having arguably his best season at Gladbach during the 2024/25 campaign, where he netted three Bundesliga goals. However, uncertainties regarding his contract led to an inevitable summer exit.

The saga that followed became one of Gladbach’s lengthiest transfer stories. After Itakura’s release clause expired amid declining interest, PSV Eindhoven proposed €9 million. Ajax and Feyenoord eventually joined the race along with Frankfurt, before Ajax emerged as the final victor.

Gladbach sanctioned the transfer for €10.5 million plus potential bonuses, although Itakura’s time in the Netherlands did not result in a permanent position.

The Japan international played frequently for Ajax, but a back injury during the winter hampered his season, preventing him from becoming a key member of the squad. With Itakura seemingly out of favor under new head coach Míchel Sánchez, Ajax has accepted a considerable loss merely one year after acquiring him.

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This situation presents a unique market opportunity for Gladbach.

Itakura Addresses Immediate Needs for Gladbach

Elvedi’s impending €10 million transfer to Leeds has left a void in the defensive lineup, creating an urgent need for replacement. GGFN’s recent Borussia Mönchengladbach 2026/27 tactical preview had earlier indicated that Elvedi would likely partner with Diks at the season’s start. His departure could have forced sporting director Rouven Schröder to search for alternatives.

Instead, it seems Gladbach is set to replace one experienced Bundesliga player with another. The choice minimizes adjustment risks, as Itakura is already familiar with the club, the league, and many teammates. His prior experience in both a back four and a back three, along with his ability to contribute in midfield, further enhance his fit.

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Schröder had previously contemplated bringing Itakura back during the winter. Now, the timing aligns perfectly with Gladbach’s current needs for an established central defender. Should Wednesday’s medical proceed without issues, the recent transfer circle that brought Itakura back to Borussia-Park will conclude.

Itakura’s departure from the club last summer followed months of speculation about his future. A year later, it appears he is on track to return to the Bundesliga.

GGFN | Peter Weis

Borussia Mönchengladbach are reportedly on the verge of completing the sensational return of former defensive mainstay Ko Itakura. The Japanese international is expected to undergo his medical on Wednesday after Gladbach reached a full agreement with Ajax Amsterdam. Sky Germany reports that Gladbach will pay a guaranteed €3.5m for the 29-year-old, with another €500,000 potentially due in bonuses. Ajax have also secured a sell-on percentage as part of the agreement.

The numbers render the prospective transfer particularly remarkable. Gladbach sold Itakura to Ajax for a reported €10.5m guaranteed fee only last summer. Get German Football News subsequently reported that the package could ultimately rise to approximately €12m.

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One year later, Borussia are poised to reacquire the same player for less than half the guaranteed fee they received. Provided Itakura passes his medical, he is expected to replace Leeds-bound Nico Elvedi in Eugen Polanski’s central defense. The Japanese defender should slot in alongside Kevin Diks as Gladbach rapidly resolve a position that appeared set to become one of their most pressing late-window needs.

An extraordinary Gladbach return

Itakura’s first spell at Borussia-Park lasted three seasons after Gladbach acquired him from Manchester City in 2022. The former Schalke loanee rapidly established himself as an important Bundesliga defender and ultimately made approximately 80 competitive appearances for the club. His importance became evident almost immediately.

Injuries and suspensions during his first season repeatedly demonstrated how much Gladbach’s defensive organization depended on him, while his technical qualities eventually allowed subsequent head coach Gerardo Seoane to experiment with deploying him in midfield as well.

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Itakura became particularly effective alongside Elvedi and later enjoyed arguably his finest Gladbach campaign in 2024/25. He scored three Bundesliga goals during that season before his contractual situation made a summer departure increasingly likely.

What followed became one of Gladbach’s most protracted transfer sagas. After Itakura’s release clause expired amid declining interest, PSV Eindhoven returned with a €9m proposal. Ajax and Feyenoord later joined Frankfurt in the final race before the Amsterdam giants eventually prevailed.

Gladbach finally sanctioned the move for €10.5m plus potential bonuses. The transfer nevertheless failed to establish Itakura permanently in the Netherlands.

The Japan international featured regularly enough for Ajax, but a winter back problem interrupted his campaign and he failed to cement himself as an indispensable member of the team. With Itakura apparently no longer central to new head coach Míchel Sánchez’s plans, Ajax have now accepted a substantial loss only twelve months after acquiring him.

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For Gladbach, the circumstances present an unusual market opportunity.

Ko Itakura solves immediate Gladbach problem

Elvedi’s impending €10m move to Leeds removes the player initially projected to partner Diks at the heart of Polanski’s defense. GGFN’s recent Borussia Mönchengladbach 2026/27 tactical preview projected that Gladbach would enter the new campaign with Elvedi and Diks positioned as the probable first-choice pairing. The Swiss international’s departure therefore threatened to force sporting director Rouven Schröder back onto the market.

Instead, Gladbach appear ready to replace one familiar Bundesliga veteran with another. The decision also carries relatively little adaptation risk. Itakura knows the club, the Bundesliga and several members of the existing squad. He has already worked successfully in both a back four and back three and possesses sufficient comfort in possession to step into midfield when required.

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Schröder had already considered bringing Itakura back during the winter. The opportunity has now arrived at precisely the moment Gladbach need another established central defender. If Wednesday’s medical proceeds without complications, one of the stranger recent Bundesliga transfer circles will be complete.

Itakura left Borussia-Park last summer after months of speculation surrounding where his career would continue. Twelve months later, the answer appears to be back in the Bundesliga.

GGFN | Peter Weis