Barcelona are prepared to offload Pedro when the transfer window re-opens this summer - but only for a fee of around €30 million.
Spanish newspaper AS claim Pedro is unhappy with his current peripheral role at the Camp Nou and is subsequently considering his options.
And while Barcelona officials still regard Pedro as an important squad player, they are prepared to sell to an interested club if the right offer comes along.
Arsenal, United and Chelsea all keen
Arsenal have a long-standing interest in the 27-year-old - they made several inquiries last summer but were told the player would not be leaving the Catalan giants - while it’s understood that both Manchester United and Chelsea are also paying close attention to the player’s situation.
Pedro will only have a year left to run on his current deal this summer, and Barcelona run the risk of losing the player for nothing in 2016 if they fail to cash-in at the end of the season.
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Pedro becoming frustrated at Barcelona
Despite having made 24 appearances this season, Pedro has only made 11 La Liga starts and has struggled to make Luis Enrique’s line-ups on an increasingly regular basis since the arrival of Luis Suarez, who made his Barcelona debut in October.
Pedro has still managed to score 10 goals in all competitions this season - he has now hit double figures in six consecutive campaigns - but appears to be frustrated with his role as back-up to Suarez, Neymar and Lionel Messi.
The Spain international will have kept a close eye on the progress of former teammates Alexis Sanchez and Cesc Fabregas, who joined Arsenal and Chelsea respectively last summer, after becoming frustrated with their own situations at the Camp Nou.
No guarantees of first-team football
Pedro could flourish in similar fashion in the Premier League - although there would be no guarantees of first-team football at either Arsenal, Chelsea or Manchester United.
The Gunners possess plenty of attacking options similar to Pedro, and Arsene Wenger may decide to end his interest in the winger now Sanchez is at the Emirates Stadium.
Chelsea, meanwhile, spent £26.8 million on Colombia international Juan Cuadrado in January - a player with similar qualities to Pedro - and United will surely prioritise strengthening other areas of their squad following a mixed first season under Louis van Gaal.
Pedro would be an excellent addition to any squad, but will only leave Barcelona if guaranteed regular first-team football.
Pedro should stay at Barcelona
And that’s the big question: can any of the aforementioned clubs offer Pedro what he craves?
The Spaniard is certainly good enough to make himself undroppable at a big club, but in order for that to happen he would need to score goals consistently as soon as he arrives in the Premier League.
And because for every Alexis Sanchez there’s a Mesut Ozil, Pedro runs the risk of becoming bench-fodder with a Premier League club - tied down to a long contract - if the move fails to pan out.
It’s a gamble that could ultimately back-fire on the Spaniard, who must realise he has it pretty good at Barcelona - despite the fact he doesn’t start every game.
Would Pedro be a good signing for Arsenal, United or Chelsea? Is he cut out for English football? Have your say in the comments below!