Real Madrid will hold further talks with Vincius Junior's representatives about his future this week.
Those discussions will centre on finding an agreement over a new long-term contract.
Arsenal, who are aiming to strengthen their left-wing options this summer, are interested in Vinicius and are monitoring the situation closely.
Manager Jose Mourinho wants to keep the Brazil international and the club want him to sign new terms.
However, he has has entered the final year of his contract and if an agreement cannot be found on a new deal, Real could be open to selling, rather than lose him for free next summer.
Could Real's Diomande move make Vinicius to Arsenal more likely?
Sky Sports News has been told Real Madrid's proposed deal to sign Yan Diomande from RB Leipzig has no bearing on Vinicius's situation.
Madrid are increasingly confident of completing a deal for Diomande this week after Paris Saint-Germain withdrew from the race on Sunday.
Sky Sports News has reported for several months that the Premier League clubs interested in Diomande are Liverpool, Arsenal and Manchester City.
But he now looks destined for the Bernabeu, and Sky Sports News understands PSG are to resume their pursuit of Monaco's Maghnes Akliouche next.
Last week, Sky Sports News exclusively revealed that Liverpool had made an approach to Monaco for Akliouche, whom PSG will only bid for at the right price.
Liverpool are also interested in PSG winger Bradley Barcola, along with Arsenal, in what is an intensive and wide-ranging market for wingers this summer.
Analysis: Vinicius Jr would be jaw-dropping signing for Arsenal
Sky Sports' Peter Smith:
"It's well known Arsenal are aiming to strengthen their left-wing options this summer - but a deal for Brazil ace Vinicius Jr would be a jaw-dropping addition.
"Vinicius Jr has one year left on his current Real Madrid contract so this could be the window of opportunity for potential suitors to make their move, as Real try to tie the winger down to a new deal.
"Vinicius Jr's relationship with new Real Madrid boss Jose Mourinho has been in focus.
"However, it is understood the player and head coach have been in touch since an incident last season which saw Vinicius Jr abused by Mourinho's Benfica midfielder Gianluca Prestianni and that the pair were ready to start this new campaign together with a clean slate.
"But with Arsenal's interest being reported, there is now the possibility Vinicius Jnr will be kicking off the 206/27 season in the Premier League.
"It's a thrilling thought for Arsenal fans and neutrals on these shores - but a worrying one for the Gunners' title rivals."
Are Vinicius Jr's wage demands too much for Arsenal?
Spanish football expert Terry Gibson on Sky Sports News:
"Vinicius Jr is currently on 15m Euros a year net.
"Real Madrid have offered him 20m Euros. He wants 30m Euros - just over 550,000 Euros a week net.
"There's no budging on the contract from Real Madrid or Vinicius. Real Madrid are looking at a potential replacement in Yan Diomande from RB Leipzig. This [contract situation] has been ongoing for 18 months.
"But when you put those figures in the melting pot, it's hard to imagine Arsenal or anybody in the Premier League matching those sums of money."
mewelnorty
1
I want vinícius júnior
Tomckmtyz
0
mourinho will convince him to stay for many years
Same mourinho who won't stay for many years
Cubabinory
1
Fewer teams can afford his salary in Europe, best for him is to run-out his contract and leave as a free agent like Mbappe did,, or else he move to Saudi Pro league..
KumahEmmanuel011
1
mourinho will convince him to stay for many years
Wiamnorty
0
they can manage to pay him but not being serious
yipabiktuz
1
i don't think arsenal can pay this hug wages, it's much