Leeds United have rejected Arsenal's opening bid for Raphinha and want £65million for the winger.
Arsenal's opening offer was deemed well short of Leeds' valuation for the 25-year-old but they will return with a revised bid.
The Brazilian has interest from Barcelona, his preferred club, Chelsea and Tottenham, who are also expected to bid this week, but the valuation is prohibitive.
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However, the Leeds star will have to be patient if he wishes to move to the Nou Camp due to financial constraints hanging over the team.