The news was shared on social media by journalist Nacho Bravo.
"Information reaching me from Serbia suggests that Campazzo could once again don the Crvena Zvezda jersey," wrote the editor of the Spanish media outlet Cope.
It's no secret that the red-and-whites are in need of a point guard. The departure of Cody Miller-McIntyre to Olympiacos has created a void in that position, forcing the club from Mali Kalemegdan to seek a new addition.
Campazzo previously played for Crvena Zvezda during the 2022/23 season before moving to Real Madrid.
The "Royal Club" is now building a new team under the guidance of Pedro Martinez, leading to speculation for some time that the Argentine might be on the move again.
There were previous reports of significant interest from Panathinaikos as well.
Last season, Campazzo played a total of 44 EuroLeague games, averaging 12 points, 5.1 assists, 1.9 rebounds, and 1.1 steals. His contract with Real Madrid runs until 2027.
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