The winger completed a shock move to the Black Cats from Juventus over the summer as a part of Paolo Di Canio’s overhaul of the club’s playing staff.
But, after a disappointing start to the season the controversial coach was sacked and has been replaced by Gus Poyet.
A poor opening result to the ex-Brighton man’s time at the Stadium of Light – a 4-1 loss to Swansea – has cast doubts over whether or not the NortH East side have what it takes to avoid relegation.
This has alerted Inter, who are keen to offer Giaccherini a winter escape route.
The skilful winger is still highly regarded in his homeland and seen as the ideal man to boost the Milan giants’ hopes of a respectable finish this term.
Inter have the financial backing following a new takeover to make a serious move, and could offer Sunderland £6.5m for their recent arrival.
Giaccherini himself may be tempted to move back to Serie A due to a desire to make the Azzurri’s squad ahead of the World Cup and the behind the scenes problems on Wearside.
Can Sunderland hang on to Emanuele Giaccherini?
Join the debate below!