Barcelona re-emerge after £178m cash influx to sign in-demand forward

Football Club Barcelona are back in the race for Raphinha despite Chelsea reaching an agreement with Leeds United. Arsenal are now considered outsiders for a player they were favourites to sign when the transfer saga got underway.

The Catalan club then became the favourites after they agreed personal terms with the Brazil international prior to the end of last season. Barcelona were hoping Leeds would get relegated, which would have then triggered the £25 million release clause in Raphinha's contract.

The Elland Road side survived, and then immediately after placed a £60 million price tag on the wide forward. Barcelona's financial troubles saw them struggle to match Leeds' valuation and dropped out of the race.

Arsenal stepped in and made contact with Leeds, but their initial offer of £35 million was dismissed by the Premier League club. The Gunners were preparing a second offer when Chelsea usurped their London rivals with an offer of around £60 million, which was accepted by Leeds.

The Stamford Bridge club became the frontrunner, but according to The Times, Barcelona are back and are ready to meet the Premier League club's asking price. The Catalan giants have received a much needed cash injection after selling 10% of their TV rights for the next 25 years.

The La Liga club is expected to get an initial fee of £178 million, which will aid their transfer business this summer. They are ready to put a sizeable amount of their earnings into signing Raphinha, whose agent Deco shares a close relationship Joan Laporta, the president of FC Barcelona.

The Catalan outfit is reportedly planning to offer an initial fee of €60 million (£51m) with a further €10 million to follow in addons. Barcelona are hoping their much increased offer will be accepted by Leeds, especially since Raphinha's first option remains moving to the Camp Nou.

Raphinha has scored 17 goals and provided 12 assists in 67 games since joining Leeds from Rennes in 2020. The Brazil international is not expected to return for pre-season training until Monday, following which the English club will depart for a two-week trip to Australia.

Raphinha, who is currently on holiday, wants his future sorted out before pre-season begins. The 25-year-old's agent was spotted outside the Camp Nou on Wednesday, making Barcelona the current favourites to land his signature in the coming days.