Barcelona are hoping to tie Munir El-Haddadi down to a long-term contract with a higher release clause to stop Arsenal from swooping in, reports The Daily Express.
The 18-year-old was highly impressive on his Nou Camp debut against Elche, scoring a goal and proving to be a constant thorn in the side of the opposition. Pundits are already labelling Munir as the next major talent to emerge from La Masia.
His impressive debut would have come as no surprise to Arsene Wenger, who has sent Arsenal scouts to Catalunya to keep tabs on the youngster throughout his development at Barcelona's famed academy. Having broken through to the first team, the time seemed right for Arsenal to make their move.
Having just lost Olivier Giroud until 2015, Wenger is reportedly on the lookout for a dynamic goalscorer and is tempted into making a move for Munir while he is still cheap.
Wenger's interest will certainly be partly inspired by the fact that Munir's release clause currently values him at £10 million. In today's market, such a fee would be something of a bargain if Munir reaches his potential.
Having seen Arsenal swirling, Barcelona are now urgently trying to draw up renewed terms for Munir with a significantly higher release clause to make sure his long-term future remains at the Nou Camp.
However, Munir will be tempted by the chance to move to Arsenal as Luis Enrique cannot guarantee the teenager first team football. With the likes of Neymar and Luis Suarez ready to return in the near future, Munir will return to the bench regardless of how well he plays.
Arsenal, on the other hand, have managed to entice a number of Barcelona prospects to north London with the promise of first team football. Cesc Fabregas' famous rise through the Gunners' ranks stands as a testament to Wenger's ability to get the best out of potential.
The fact, however, remains that playing for Barcelona is a more attractive proposition for the youngster. Barcelona represent a better chance to win silverware and the chance to play with global stars like Lionel Messi and Neymar.
Munir's current contract runs until 2017, meaning he could be in for a bumper payday once Barcelona executive Andoni Zubizarreta opens talks. They will be extra keen to make sure Munir is staying as Barcelona have recently been banned from signing players in the next two windows.