Vinicius Jr is set to resume contract talks with Real Madrid this week as Premier League champions Arsenal maintain a key interest in the forward.
The Gunners have identified the Brazilian as their priority left-wing target should his contract situation remain unresolved.
But, while the prospect of one of the world's best attackers moving to north London has captured supporters' imagination, there remains a lot of uncertainty about whether the forward is actually available this summer.
That's because Real Madrid and Vinicius Jr's representatives have been in talks over a new contract for the past 18 months. His current deal runs until 2027.
So, with talks set to resume, where do things stand?
Real Madrid talks this week
Vinicius returned to the club for his first pre-season training session and medical assessment on Monday following his World Cup campaign with Brazil.
The forward is training under Jose Mourinho for the first time this week, with sources close to the Portuguese manager saying he is keen for the winger to commit his future to Real.
Vinicius also wants to remain at the Bernabeu but with his contract expiring next summer, Real risk losing him on a free transfer if no agreement is reached.
That has increased the urgency for the club to resolve his future before the end of the transfer window, with talks set to resume in earnest in the next few days.
There was a similar situation in 2023 when, with his previous contract entering its final year, Vinicius signed a new deal extending his stay until 2027.
Renewal talks have taken place over the past 18 months, but slowed because of disagreements over wages and status within the club.
The 26-year-old is believed to want recognition as Los Blancos' top star financially, especially after carrying the team for years before the arrival of Kylian Mbappe.
Real, however, are traditionally strict about maintaining their salary structure under president Florentino Perez, with Mbappe currently top of the club's high earners.
Despite this tension, Vinicius has described Real as "the club of my dreams" and said he hopes to remain there "for many years".
The club are hopeful of concluding talks this week. If a new contract can't be agreed - that's when Arsenal come in.
The Gunners ready and waiting
Mikel Arteta has already made clear that this transfer window is one where he can take Arsenal to another level, and the Gunners boss has become enamoured with the idea of signing Vinicius.
If he did join, it would be a real sign that Arsenal are looking to build on their Premier League title win last season, bringing in one of the best players in the world in the peak years of his career.
Those close to the winger have always played down the immediacy of any move.
Arsenal are also aware that even though their target is in the last year of his deal there is no guarantee they will get their man, and the power lies with the player at this point.
