The Brazilian is expected to leave Elland Road this summer as elite suitors such as Catalan giants Barcelona hold a credible interest in the player.
Raphinha has entertained Premier League audiences for the past two seasons whilst contracted to Leeds United and whilst the 25-year-old's deal does run until 2024, it is not anticipated that he will sign an extension this summer as previously thought.
Instead, it seems Raphinha's future lies elsewhere and the prospect of a move to LaLiga outfit Barcelona may prove too enticing for the player and his representatives to turn down.
Los Cules have found it difficult to balance their finances over the past couple of seasons with players such as Gerard Pique taking voluntary pay-cuts in order to permit Barcelona to register new additions.
This summer, the club's General Assembly voted to sell 20% of the club's merchandising rights and a portion of the side's future television income to raise up to 600 million euros.
This is in order to combat the various debt obligations Barcelona currently owe, but also allows them to operate more freely in the summer transfer window.
A new report in Spanish outlet Sport indicates Barcelona chief Mateu Alemany hopes to negotiate a lower price for Raphinha than the 50 million euro sum Leeds are currently holding out for.
There is reportedly a 10 million euro impasse between the two clubs with Barcelona only willing to spend 40 million euros this summer due to other financial commitments and the desire to also lure Bayern Munich's Robert Lewandowski.
Despite Barcelona's wishes, Leeds are unlikely to budge on their valuation of Raphinha knowing that other clubs such as Arsenal and Tottenham Hotspur also hold an interest in the player.
Unlike the Camp Nou club, other suitors are unburdened by Barcelona's level of debt meaning a transfer agreement could, in theory, be reached more readily.
It is understood that Leeds are not expected to stand in Raphinha's way if an appropriate bid is submitted, however the club are yet to receive any formal approaches.
Barcelona are set to reassess their financial situation in just over a week's time when winger Ousmane Dembele is expected to leave the club on a free transfer.
The Frenchman is among the Catalan club's highest earners and his departure at the end of his contract is set to free up space on the wage bill.