Benfica are said to be optimistic they can bring Jota back in the summer but their decision to give Celtic an option to buy has been branded an "absolute travesty".
The winger moved to Parkhead in the summer and has become one of Ange Postecoglou's key men with seven goals and six assists between the Premiership and Europa League.
There is an option to buy inserted in the deal, believed to be set around €7million (£6m) and Celtic fans are desperate for the club to trigger it.
Things may have changed back at Benfica though following the departure of Jorge Jesus as manager, and one insider believes they want Jota back.
But he was forced to concede that the decision to include that option to buy could come back to bite the Portuguese giants.
Journalist Alex Goncalves explained: "Benfica obviously remain keen to keep hold of João ‘Jota’ Filipe, hence why Celtic still haven’t managed to sign him permanently. It's all still up to Jota, but Benfica would like him to return to his boyhood club.
"There’s a feeling that there’s a decent chance it’ll happen.
"Even if Jota chooses to stay at Benfica, it’s an incredibly lucky escape. The fact that Benfica included a £6m option fee for Celtic is an absolute travesty and incredibly poor management.
"Benfica have made some impressive sales over the years. This one would be atrocious.”
Meanwhile, Celtic are closing in on their fifth signing of the January window with Matt O'Riley set to join from MK Dons.
A fee of £1.5m has been agreed and the midfielder has taken a medical and is ready to sign despite late interest from West Brom.
