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.’
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