Alex was part of the famed Santos batch which won the 2002 Brazilian championship along with Diego, Robinho and Elano and he has expressed his desire to return to the Brazilian outfit.
However, things may not be as straightforward as it seems, given that Alex's contract will run out only at the end of next season, which means that Santos would need to fork out more should they choose to bring Alex to the club.
Alex told Terra: "My first option will be Santos, but it depends on a lot of things. First, on a proposal from the club, it isn't just my decision.
"The biggest problem is that I still have a year-and-a-half on my Chelsea contract, it will be difficult to get released. If I had less time on the contract a return to Brazil would be easier."
The Brazil defender also accepts that he will be facing a substantial cut in pay when he leaves Stamford Bridge.
He continuted: "I have been aware of it since I asked for the transfer. I know that if I go back to Brazil the salary will not be the same, it will be tough to keep it even close. But that is not an issue for me, players who go back know they will lose out financially,"
Alex submitted his request to leave Chelsea along with striker Nicolas Anelka.
While Anelka has been snapped up by Chinese side Shanghai Shenhua, Alex is still unsure of his destination as yet.