Real Madrid are preparing a fresh contract offer for Vinicius Junior in an attempt to fend off growing interest from Arsenal, who are readying an initial official bid for the 26-year-old forward in what could prove the standout deal of the summer window.
Sky Sports report that Arsenal are seriously weighing up a move for the Brazilian and have informed his agents of their opening offer. The timing is telling. Vinicius's contract with the Spanish giants is winding down, leaving Real Madrid with two choices: extend his deal or sell him and avoid losing him for nothing in a year's time.
The Athletic first revealed Arsenal's interest at the end of last week, before Sky Sports backed up the story on Monday evening, adding that the London club are lining up a formal bid.
Real Madrid know how serious this is. They have decided to hit back, tabling a new offer to extend Vinicius's contract and end the uncertainty hanging over his future in the Spanish capital.
Months of talks between the club and Vinicius's representatives lie behind this counter-offer, and none have brought an agreement. Both sides want a deal that suits everyone. The gulf in financial demands keeps getting in the way.
Vinicius arrived from Flamengo in 2018 for 45 million euros, still only 18 at the time. Since then he has grown into one of the biggest names in the Real Madrid squad.
Transfermarkt, the specialist player valuation site, puts his current market value at 140 million euros. That ranks him among the most expensive players in the world and goes some way to explaining the interest from Europe's heavyweight clubs.
His numbers last season made the case for him. Vinicius scored 22 goals and provided 14 assists in 53 appearances across all competitions, underlining just how vital he is to the side and why the hierarchy are so determined to keep him.