Give Vini Jr a blank cheque! Real Madrid should be paying Brazilian superstar whatever it takes to keep him out of Arsenal's clutches

When Arsenal's interest in Vinicius first emerged late last month, it seemed fanciful at best. It was assumed that the Premier League champions were being used as leverage in the Brazilian's pursuit of improved terms at the Bernabeu, having entered the final 12 months of his existing contract, with no real chance of the transfer materialising.

However, 10 days on and a Real Madrid exit suddenly seems like a very real possibility. The winger, who has returned for pre-season training, has been in crunch talks with his current employers this week that will ultimately decide his future - the culmination of 18 months of fruitless negotiations over a new deal.

Who knows which way those discussions will go. Vinicius - who currently earns around €18 million (£15m/$20m) net per year - has reportedly been offered €22m (£19m/$25m) per year by Madrid since the World Cup, but he is demanding closer to €30m (£26m/$35m), including a contentious, unprecedented renewal bonus to offset the earning limitations of the club's salary cap - something the club believe could have a "dangerous knock-on effect" for future contract renewals, according to The Athletic.

For what it's worth, the player is said to be open to lowering his demands to finally make a deal happen, and it was reported on Wednesday that Los Blancos had raised their offer to reflect his importance to the team and project, with optimism emerging that he would sign on the dotted line. Given the previous significant financial difference between the two parties, however, it remains to be seen if that will be enough.

It's been widely reported that, if they cannot strike an agreement on a new contract, Real Madrid would be open to selling one of their prized assets to ensure he does not leave for nothing in a year's time. Despite having fewer than 12 months to run on his contract, Vinicius is still valued at around €150m (£129m/$173m).

However, there is an unshakeable sense that Madrid would live to regret not reaching some sort of compromise for a player who is one of world football's few bona fide superstars. When we are already talking about figures as astronomical as €22m per year, surely there is scope to push a bit higher to find some common ground for a club of their stature and financial might.

Arguably the finest left-winger on the planet, who boasts both dazzling footwork and an eye for the spectacular, the 26-year-old has delivered in countless big moments for Real, including the winner in the 2022 Champions League final and a goal in the 2024 showpiece. He is closing in on 230 attacking contributions in fewer than 400 appearances for the club at the time of writing.

From a commercial standpoint, too, Vinicius is a golden goose, bringing in plenty of revenue through shirt sales and other avenues, boosted by the fact he is now Brazil's talisman at international level.

Los Blancos might be about to sign Yan Diomande from RB Leipzig in a blockbuster €120m (£103m/$128m) deal, but, coming from the Bundesliga, there is no guarantee of success and he would do well to come anywhere close to Vini Jr's level. A player of his calibre is simply irreplaceable in every way.

That is something Jose Mourinho is apparently all-too aware of. The returning Madrid manager is said to be opposed to the sale of Vinicius or any other key members of his squad, despite his bitter criticism of the Brazil international following his former side Benfica's Champions League clash with Real last season and the alleged racist abuse by Gianluca Prestianni.

Los Blancos are closing in on the big-money signing of Diomande, who is being talked up as a direct replacement, but the Ivorian has actually been far more effective off the right flank so far in his budding career, providing 20 goal contributions in 26 outings from that side, compared to five in 15 from the left.

Vini Jr's exit would give Mourinho an immediate headache, then, likely forcing the club to re-enter what is a limited market for top-level wingers. They do have Rodrygo in their ranks, but he is not due to return from an ACL rupture until early 2027.

This would be an unprecedented sale for Real Madrid, who very rarely part with their best players and guaranteed starters when they are still at the very peak of their respective powers. The club's ability to sign and retain the world's best for years on end is part of its grandeur.

Cristiano Ronaldo departed at the age of 33, albeit he still brought in a €100m fee; Casemiro was past his best when he left for Manchester United in 2022; Angel Di Maria was deemed surplus to requirements; Mesut Ozil wasn't a guaranteed starter when he completed his own switch to Arsenal in 2013.

This is, then, new territory for Los Blancos, and it is a deal that would show a chink in the club's considerable armour and diminish their air of superiority in the transfer market. Not only would selling Vinicius weaken them significantly, but it would also potentially strengthen one of their rivals for the Champions League crown - whether he ends up at 2026 finalists Arsenal or one of Europe's other big hitters.

It is the north Londoners, however, who look most likely to capitalise on Real's inability to find a contract agreement with the 26-year-old, and they would be rewarded for putting in the groundwork.

Arsenal have been manoeuvring themselves into a position to strike "for months", according to The Athletic, and now what looked like a pipe dream of a transfer seems like a distinct possibility.

A move to the Emirates is said to appeal to Vinicius, where he has been assured he will be the main man under Mikel Arteta, and personal terms are not expected to be an issue, with the Gunners prepared to table a club-record, structure-warping contract to land him - presumably acquiescing to the demands that Madrid are unwilling to meet.

The figures required for both the transfer fee and wages have been signed off at the highest level, in the belief that that mammoth sum will be offset by that significant commercial value we've already touched upon, reflecting their commitment to pulling off what would be their biggest-ever transfer - one that could finally put Real Madrid on the back foot as they are shorn of one of their superstars.