Hector Bellerin's agent has revealed that Barcelona have not made an offer for their former youth player.
Bellerin started his career in La Masia, and has been constantly linked with a return to Camp Nou despite pledging his loyalty to the Gunners.
But agent Albert Botines has affirmed that while there are a handful of clubs interested in his client, the Catalans are yet to make a formal bid for his services.
"Before he signed his renewal there were six or seven clubs interested in him, and that made him understand he was doing the right things," Botines explained to Goal.
"After he signed the renewal there were only two or three clubs who kept up their interest in Bellerin.
"I have read lots of things about this supposed interest from Barcelona but it has been a long time since the club last called me.
"You never know what is going to happen in the future in the football world and of course he signed a renewal with a view to stay at Arsenal for a long time.
"But you never know, maybe there's a club who likes him and things change. I can't guarantee anything about the future but the natural thing would be for him to stay because he has signed a renewal."
Bellerin has struggled to find his best form in a difficult season at the Emirates Stadium, as Arsenal battle to squeeze into next season's Champions League.
Botines, however, assured he would soon be back to his best, while pointing to an injury to explain the dip.
"This season he has had good times and bad times, he started pretty well and was able to sign a long contract on very favourable terms with the intention of staying long-term," he explained.
"This season was hard after the Champions League elimination, it is true there's a cup final to play and that will make this disappointment easier to accept.
"The injury in his ankle didn't allow him to show his best form like in the previous season, and in addition he felt an injury relapse after receiving a hit during a game with Spain Under-21s.
"It is true he is playing less than last season but there's nothing strange about that because it is part of a footballer's life and he knows that.
"Of course he wants to play more often but he understands that he suffered some difficulties during this season and will work hard to become an important player for the team again."