 In June 2009, he returned to Argentinos Juniors as their new manager following their dismal 2009 Clausura campaign, which had seen the club finish 20th (last) in the table, with only 2 wins from their 19 games.After leading the club to a 6th-place finish in the 2009 Apertura championship, Borghi and the Argentinos Juniors directors set the target of surpassing the 61 points from the 2007–08 season to avoid dropping further down the relegation table.In the 2010 Clausura championship, Argentinos recorded a 6–3 win against Lanús in their second fixture of the campaign, but after five games this was their only win, with two draws and two defeats.