Barcelona reportedly turned down a £130m offer from Manchester United for Ansu Fati during last summer's transfer window.
The 18-year-old has been on the sidelines with a knee injury since November but had started the 2020-21 season in excellent form for the Catalan giants, scoring five times and registering four assists in 10 outings.
In all, Fati has netted 13 goals and contributed five assists in 43 appearances for Barca, having made the breakthrough into the first team last season.
According to Mundo Deportivo, United made a £130m offer for the Spain international last summer, but Ronald Koeman's side made it clear that they were not interested in selling him.
The teenager's existing deal with Barca is due to expire in June 2022, although the club have the option of activating an additional two years on the agreement.
Fati joined La Masia in 2012 at the age of 10, having previously spent time with Sevilla's academy.