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, as per reports.
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.
But after a bright 2017-18 season with Bordeaux in which he scored 12 goals and added seven assists, Malcom struggled for playing time at Barca, managing 15 appearances for the club and just six starts in La Liga.
However, there had been a lack of significant offers for the 22-year-old, with just a slight interest from Arsenal in a possible loan, which kept him involved in Barca’s pre-season plans.
But the situation looks set to change with Dortmund,who have already brought in a pair of attacking players in Thorgan Hazard and Julian Brandt this summer, now involved.