The offer would have lifted the 26-year-old’s salary to 22 million euros per year, but discussions have stalled because of a substantial difference between the two sides’ expectations.
The biggest obstacle is understood to be a signing bonus, with Real Madrid reluctant to include one as club officials fear it could create an unwanted benchmark for future contract extensions.
Vinicius and his representatives are expected to hold fresh talks with the club’s hierarchy later this week in an attempt to bridge the gap. However, reports suggest Madrid are prepared to consider selling the winger if an agreement cannot be reached within the next few weeks.
That uncertainty has reportedly alerted Arsenal, who are keeping a close watch on developments and could emerge as a potential destination should negotiations ultimately collapse.
Despite the off-field uncertainty, Vinicius enjoyed another productive campaign in 2025-26. He registered 16 goals and five assists in 36 La Liga appearances, making 32 starts and playing 2,815 minutes.
Across all competitions, he contributed 22 goals and 11 assists, while receiving eight yellow cards, no red cards and posting an average match rating of 7.65.
