Ronald Araujo is out of contract in the summer of 2023.
The Uruguayan international has been heavily linked with Premier League giants Chelsea and Manchester United in the summer.
Araujo, 23, is regarded as one of the finest centre-backs in Europe and is out of contract next summer in 2023.
Barcelona would be keen to extend his deal but will also keep a track of their wage bill this time around.
According to reports, Araujo’s representatives will be meeting with Barcelona in the coming days over his contract.
Barcelona has offered a €4 million per season contract offer for the 23-year old defender that would quadruple his current wages.
Araujo himself has concluded that he’s currently close to signing a new deal with the Catalan giants.
‘I am very happy to be here and happy with the support of the club,’ said Araujo.
‘And on discussions over a new deal, he added: “We are working. This week we have a meeting.
‘I hope it will be resolved soon so that I can continue many years at this club. I am optimistic.’