Tottenham Hotspur are the first side to have made a move for Barcelona flop Malcom, according to a report.
The 22-year-old has failed to justify his £36.5m price tag since joining from Bordeaux last July, appearing just 21 times in his debut campaign at Camp Nou - 12 of those outings coming from the bench.
Malcom appears to remain a player in demand, however, as Tottenham, Borussia Dortmund and Arsenal have all been linked with the winger over the past month.
Spanish outlet Sport claims that Spurs are leading the way for the Brazilian's signature as they have already been in touch with Barcelona regarding a summer transfer.
However, the report indicates that Barca are refusing to sell Malcom for less than they paid for him, which could put Tottenham off making a formal offer.