Arsenal transfer target Malcom has been subject of a £37.5million bid.
But it is not the Gunners closing in on the signature of the Barcelona winger - instead it is Borussia Dortmund.
Arsenal have been long-time admirers of Malcom and attempted to land him from Bordeaux before he completed his switch to Barca 12 months ago.
The 22-year-old has failed to make a huge impact at the Nou Camp since joining last season.
He featured in less than half of the Catalan club's La Liga fixtures last season, only notching one goal in the league.
Now Barcelona are thought to be ready to allow Malcom to leave after just one season.
According to Goal, Borussia Dortmund are in advanced talks with Barca over a €42m (£37.5m) deal for the Brazilian.
The deal would be around £1million more than Barcelona signed him for one year ago, representing reasonable business from Nou Camp chiefs.
Barcelona fought off competition from Roma to sign Malcom last summer - and the Italian club even went as far as flying him into Rome for his medical.
He was pictured arriving and the club confirmed he was due to sign, only for Barcelona to swoop.
