Arsenal would be willing to sell captain Cesc Fabregas to Barcelona if they can agree a fee, according to BBC Sport.
The 24-year-old World Cup winner is continually linked with a move back to his boyhood club during every transfer window. Last summer, the Gunners rejected a £30million offer for their inspirational skipper.
However, with Fabregas appearing more determined to rejoin the club he left as a teenager in 2003, Arsenal are said to be ready to allow the deal to go through, if Barcelona improve their £27million bid. BBC Sport quote a senior Arsenal official as saying: "The offer was made formally in writing to our chief executive (Ivan Gazidis), and we said no straight away."
When asked if the club expected an improved offer this week, the source added: "Possibly yes, and if it's enough then I expect we'll have to sell."
Last week, Barcelona president Sandro Rosell claimed the European champions would not break the bank for Fabregas, of whom he said: "it is clear that this year his value is less."
During the 2010 summer transfer window, Arsenal released a statement confirming their captain was not for sale. However, so far, there has been no official comment from the Barclays Premier League club following renewed speculation over Fabregas' future.