Barcelona have slapped a £110million price tag on Philippe Coutinho's head - and want £27m to let him go on loan, according to reports from Spain.
The Brazilian has emerged as a surprise Gunners target just one year after he left the Premier League with Liverpool to join Barcelona in a deal worth £142million.
Coutinho's Barcelona side take on Arsenal in the Joan Gamper Trophy at the Nou Camp on Sunday, and officials from both clubs are looking to thrash out a deal to bring the Brazilian to the Emirates.
The Gunners are not in a position to sign Coutinho permanently as they emptied their bank account to land £72million Nicolas Pepe from Lille.
But they are unlikely to be able to sign him on loan either, according to Mundo Deportivo via Catalunya Radio, who claim Barcelona want £27m to let Coutinho go temporarily.
Arsenal's head of football Raul Sanllehi is set to hold talks with Barcelona nonetheless to see if the two clubs can work something out.
The Gunners recently signed Nicolas Pepe for a club-record £72million.
Pepe said: "Being here is very emotional. I have come a long way and struggled a lot and so signing for this great club is a big reward.
"It was important to make the right decision and I am convinced that Arsenal is the right choice."
Emery added: "Nicolas is a highly rated and talented winger who was wanted by many of the top teams in Europe.
"Signing a top-class winger has been one of our key objectives in this transfer window and I'm delighted he's joining.
"He will add pace, power and creativity, with the aim of bringing more goals to our team."
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