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.
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.