La Liga is promising one of European football's most exciting title races of the season, but the financial situation of a leading contender means that even their most important players are subject to credible transfer speculation.
Barcelona will have the chance to return to the top of the league table with a win against Real Sociedad on Sunday afternoon and Raphinha, second only to Robert Lewandowski in Barcelona's scoring charts in 2024-25, has played a crucial role as they look to win the championship for the first time since 2022-23.
The 28-year-old Brazilian winger has started 24 of Barcelona's 25 league games this season and scored 13 times, yet new contract negotiations reportedly have one eye on a medium-term future in which Raphinha departs.
According to reports, the Catalan giants are working on a contract extension that would reward Raphinha for his impact but also reduce his buyout clause from €1bn to a level that might actually attract a buyer and help the club balance the books and ease their crippling financial constraints.
Raphinha joined Barcelona from Leeds United in 2022 and his current contract runs until the summer of 2027. He won La Liga in his first season in Spain and has gone from strength to strength alongside Lewandowski and Lamine Yamal this season.
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A lowered release clause could trigger the interest of a trio of Premier League clubs who've previously been linked with a move for the winger, while the cash-rich Saudi Pro League is reportedly another possible destination.
Arsenal, Manchester City and Manchester United are among the previously interested parties and would all see Raphinha as an improvement on their current options, though the Brazilian is not expected to be available until after the World Cup in 2026.
Raphinha's previous spell in England was successful enough to catch the eye of Barcelona after the Porto Alegre-born Brazilian international made his name with Vitoria and Sporting in Portugal and Rennes in France.
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He scored 17 goals in two Premier League seasons with Leeds and has taken to Barcelona like a duck to water. With 13 games left to play, he's two goals behind his best ever goal-scoring season.
Chris Nee