The winger's current deal expires at the end of next season, and the impasse centres on money: Vinícius wants financial parity with top earner Kylian Mbappé, while Real Madrid want him to accept less, reports the Daily Mail.
He currently earns around €15 million net a year and has been offered closer to €20 million, but is said to be holding out for a figure nearer Mbappé's total package of roughly €23 million once signing bonuses are included. Real Madrid do not want to lose him for nothing and have signalled they would consider a sale if no agreement is reached, giving Arsenal — who have discussed a move internally but not yet tabled a bid — reason to keep watching.
The Gunners, who missed out on Morgan Rogers to Chelsea, view Vinícius as their number one attacking target this summer and would need to break their transfer record to sign him. Reports in England suggest the club could offer wages close to £400,000 a week, still short of what Vinícius currently earns, let alone what he is now demanding. Saudi Arabian clubs have also continued to monitor the situation after months of speculation linking the 26-year-old with a move to the Middle East.
José Mourinho, back in charge at the Bernabéu after a public dispute with Vinícius last season, wants the winger to stay and has already strengthened his squad with Bernardo Silva, Ibrahima Konaté and Marc Cucurella. Real Madrid are also closing in on a club-record deal for RB Leipzig's Yan Diomandé, who scored 12 goals and provided eight assists last season and would give Mourinho a like-for-like replacement on the left flank should Vinícius ultimately depart.
There has so far been no public sign from Vinícius himself that he wants to leave, with no interviews or social media hints suggesting a rift with the club he has represented since 2018. Real Madrid's position remains that the decision rests with the player: match the wage structure they have proposed, built around not exceeding Mbappé's terms, or accept the club will look to cash in rather than risk losing him for nothing when his contract runs out.