Latest reports from Italy suggest that Osvaldo has turned down a lucrative contract with Serie A side Chievo, opting instead to hang up his boots to make more time to play music with his band.
Journeyman Osvaldo, who has played for 11 clubs in 12 years, failed to impress in England after Southampton paid Roma £15million in 2013, breaking their club transfer record in the process, to land the striker.
Osvaldo's disappointing stint in England was also masked with controversy off the pitch, including a high profile falling out with teammate Jose Fonte, who he head-butted during a training session, and numerous disciplinary issues at the time Saints boss Mauricio Pochettino also followed.
Pochettino went on to brand the signing of the striker as 'a mistake'. Southampton decided to cut their losses, releasing the former Italian international from his contract two years early in July 2015.