AS Roma are expected to exercise their €25 million purchase option on the 27-year-old Dutchman, with the club's American owners, the Friedkin Group, set to give the green light to make the deal permanent.
According to Corriere dello Sport, the decision has effectively already been made. What the Italian newspaper also reports is that Malen's form has now attracted half of Europe, with Chelsea, Newcastle United and Manchester United all having turned their attention toward him alongside Barcelona.
Roma will not be selling. But they may struggle to hold the line if the interest intensifies.
Malen joined Roma on loan from Aston Villa in January, initially for a fee of €2 million, with the option to buy set at €25 million. The return on that investment has been extraordinary. In 16 appearances across Serie A and the Europa League, he has scored 12 goals and contributed two assists — becoming Roma's leading scorer in both competitions despite arriving halfway through the season.
His Serie A numbers alone are historic. He has scored 11 goals in 14 league games, and Corriere dello Sport notes that only Gabriel Batistuta has scored more goals after his first 15 Serie A appearances for the Giallorossi. Nobody in the division has scored more or registered more shots on target since his debut. His minutes-to-goals ratio places him third across Europe's top five leagues.
The Friedkins are understood to believe Malen is already worth double the €25 million they will pay. The belief inside the club is that they are buying a player at the peak of his powers, with the Netherlands forward also certain to feature prominently in the World Cup this summer under the scrutiny of every major club in Europe.
Malen himself has spoken about the fit at Roma. In an earlier interview with De Telegraaf, he said he felt the style of football under coach Gian Piero Gasperini suited him well.
"We play very offensively, with a lot of pressure and many transitions. That suits me well. Maybe Italy suits me best."
His departure from Villa Park in January was driven by a tactical mismatch under Unai Emery, who primarily used him as a wide impact substitute rather than through the middle. That decision looks increasingly costly from a Villa perspective. Malen had been their top scorer before leaving, and they have found goals hard to come by since.
Roma have made his permanent signing their absolute priority. The Premier League clubs watching may have to wait until his next chapter — if it ever comes.