The Spanish champions signed the Brazilian from Bordeaux for an initial €41 million (£36.5m) this summer. But the 25-year-old is yet to start a game for Barca this season and has only played a combined total of 25 minutes in his two appearances as a substitute.
According to Sport, Arsenal have registered their interest with Barca and have made the Spanish club aware that they would be willing to move for Malcolm in January if he were to be made available.
But Unai Emery’s side, who would be willing to sign the Brazilian on loan, face strong competition from Tottenham, who are ready to spend up to €50m (£44m). Tottenham were keen on signing Malcolm in January but Bordeaux refused to entertain offers until the end of the season.
Last week, Malcolm’s agent Junior Minguella admitted that the winger was unhappy with his current situation at Barcelona. ‘Every player needs a period of adaptation and minutes on the pitch to prove their worth,” he said.
Malcolm had originally been billed to sign for the Italian side, AS Roma before the deal was hijacked by the Catalan giants in the summer.