Olmo joined the La Liga giants in the summer but financial struggles mean he could leave in the new year.
Barcelona paid £52million for his services after the playmaker helped Spain win Euro 2024. The former RB Leipzig star returned to Nou Camp after scoring 29 goals and assisting 34 in Germany.
According to Sky Sports, the Gunners have held and maintained 'regular and positive contacts' with Olmo's representatives. Ahead of January, concerns have emerged that the playmaker could be available for nothing.
Following a delay on his debut earlier this season due to La Liga's strict financial regulations, Barca were only able to register Olmo within the salary cap after the serious injury to Andreas Christensen with rules meaning that 80% of an injured player's salary can be reallocated for a new squad member. Olmo's six-month temporary contract expires on December 31 and there is the possibility that the Spain international could leave in the new year.
It's understood that Barcelona have gone to the courts in search of a 'precautionary measure' to allow them to process Olmo's registration. Arsenal were previously interested in Olmo before his return to Spain and the prospect of his arrival this year could be quite bizarre.
Bukayo Saka
Bukayo Saka is currently sidelined with a hamstring injury
Martin Odegaard remains one of the stars within Mikel Arteta's team while Ethan Nwaneri has already shown promise.
However, with Bukayo Saka facing a spell on the sidelines, Arsenal could be forced into making an unexpected move to ensure they keep pace with Liverpool in the Premier League title race.
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