Barcelona and Borussia Dortmund are negotiating the transfer of Malcom, which would see the Bundesliga club pay €42 million (£38m/$47m) for the Brazilian winger, sources have told Goal.
Malcom has an €180m (£160m/$200m) termination clause in his current contract with the Liga champions, but Barca would accept his departure in exchange for €1m more than the €41m they spent to sign him from Ligue 1 side Bordeaux.
At the time, it appeared Malcom would be heading to Roma, with the Serie A club having agreed a fee with Bordeaux, only for Barca to swoop in at the last minute to land the winger.