And after just 16 league appearances during his two years in the Spanish capital, the diminutive front-man - who was linked with moves to Liverpool, Tottenham Hotspur, Manchester United, Wigan and Newcastle in January - appears ready to acknowledge that he will have to move on in order to rediscover his form.
"Yes, yes, Benfica are negotiating with us and Real Madrid," the player's agent Diego Queiruga told Record.
"We are addressing the matter together and thinking about what is best for the player and for both clubs.
"Javier is not part of Real's plans and Benfica are a club that appeal to him. We are negotiating a loan deal that can please all."
After successful loan spells at AS Monaco and Sevilla, the Argentine wants to join a club that will guarantee him regular first-team football.
"Javier's intention is to feel useful in football again and to be able to show all his qualities, which delighted Europe when he was at River Plate," added Queiruga.
"Benfica could be the ideal club for his rebirth."
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