Paris Saint-Germain offered Barcelona €75m for Sergio Busquets but the Catalans rejected the bid out of hand.
Sport claims PSG are looking for a long-term replacement for former Barca midfielder Thiago Motta and have made Busquets and Paul Pogba their top two targets.
An approach was made for Busquets but Barca turned the French club away as they value Busquets highly as one of four captains in the squad and a future team captain.
Barca were also put off by their inability to replace Busquets before January 2016 due to their transfer embargo.
The club are in the process of renewing Busquets’ contract and PSG’s interest was in part the catalyst for speeding up talks.
PSG have also identified Manchester City’s Yaya Toure as a replacement for Motta, although at 31, he isn’t considered a long-term solution.
Manchester United could, meanwhile, return for Busquets, while City, should Toure leave, may look to Busquets as a replacement.