The midfielder was bought for €23.5 million by AS Roma sporting director Frédéric Massara but has never been fully trusted by head coach Gian Piero Gasperini, whose preference had been Richard Ríos.
The 22-year-old Morocco international, who joined from RC Lens last summer, arrived as a dynamic, box-to-box profile but has struggled to nail down a regular role under a coach who did not choose him.
He scored his first Serie A goal against Bologna recently, a moment that offered a glimpse of the potential that attracted Roma in the first place, but his overall campaign has been below expectations.
His situation has attracted the attention of several major clubs. Barcelona, RB Leipzig and Real Madrid are all reported to have expressed interest, reflecting the belief in some quarters that El Aynaoui's difficulties at Roma are more contextual than permanent — the product of poor man-management and a disrupted introduction rather than a ceiling on his ability.
The broader context at Roma is significant. The public breakdown between Gasperini and Claudio Ranieri — now resolved with Ranieri's departure — left several players in ambiguous situations, and El Aynaoui was among those caught in the crossfire.
Whether a change of club or a change of coach next season allows him to show his true level is the question his camp is now grappling with.
Roma face Fiorentina on Monday in a match that could prove critical to their Champions League qualification hopes.