The Greek giants have surged ahead of the Dutch champions, striking a verbal agreement to make the Moroccan midfielder their highest-paid player before the UEFA registration deadline.
PSV look likely to miss out on Azzedine Ounahi, with Panathinaikos now nearing an agreement with Girona for the Moroccan midfielder.
French transfer journalist Santi Aouna of Foot Mercato reports that Panathinaikos and Girona have reached a verbal agreement for Ounahi, putting the Greek club in a strong position to complete the deal.
The development comes after Spanish transfer journalist Ivan Quirós reported earlier this week that PSV remained firmly in the race to bring Ounahi to Eindhoven. Quirós also indicated that Ajax had pulled back from the competition for the midfielder.
Panathinaikos' interest, however, now appears to have moved beyond the exploratory stage.
Panathinaikos Want Ounahi Deal Completed Quickly
According to Aouna, Panathinaikos are now looking to finalise the transfer as quickly as possible so that they can register Ounahi for their UEFA campaign.
The Moroccan is set to become the highest-paid player at Panathinaikos, underlining the importance the Athens club places on securing his signature.
Aouna reported on X:
“EXCL: Verbal agreement reached between Panathinaikos and Girona for Azzedine Ounahi. The Moroccan midfielder will have the highest salary at the club. Pana now wants to wrap up the deal quickly in order to register the Moroccan midfielder on its UEFA list.”
The latest information follows Quirós' earlier report that Panathinaikos had also entered the race for Ounahi. The Greek side now appears to have made the decisive move for the 25-year-old.
The club is particularly keen to complete the formalities quickly because they want Ounahi available for their UEFA Europa Conference League campaign.
Ounahi had emerged as a potential midfield target for PSV, with Quirós previously reporting that the Dutch champions were still very much in contention.
Ajax had also been linked with the Morocco international, although Quirós reported that the Amsterdam club had withdrawn from the race.
There had even been suggestions that Ounahi had personally reached an agreement with Ajax. However, Panathinaikos' latest push has now changed the picture considerably.
If the verbal agreement with Girona is followed by a completed transfer, PSV will have to look elsewhere for midfield reinforcements.
Myron Boadu Set for Watford Move
Meanwhile, another former PSV player appears to have found his next destination.
Myron Boadu is reportedly on his way to England after failing to secure a new contract at PSV. The club decided during the summer not to renew his deal, although the striker continued training with Peter Bosz's squad until technical director Earnest Stewart personally informed him that a new contract would not be offered.
According to English transfer journalist Ben Jacobs, Boadu is now set to continue his career with Watford FC in the Championship.
Jacobs reports that the intention is for the former PSV striker to undergo an assessment in England on Tuesday.
Boadu joined PSV last season after Alassane Pléa suffered a serious injury during PSV's second competitive match, a 0-2 defeat away to FC Twente. However, the former AZ striker struggled to make an impact in Eindhoven, with injuries also affecting his time at the club.
The forward left AZ for AS Monaco in 2021 and subsequently spent time on loan at clubs including FC Twente and VfL Bochum before arriving at PSV last year.
After just one season, Boadu's spell in Eindhoven has now come to an end, with Watford appearing ready to offer him the next opportunity in his career.
