Barcelona look set to miss out on Arsenal and Chelsea target Nolito, according to reports.

The 29-year-old has caught the eye of Europe's best through his performances for Celta Vigo over the past year, and this has earned him recognition with the Spanish national side.

Mundo Deportivo now cites that Barca may not spend big in the New Year having already recruited the likes of Aleix Vidal and Arturo Vidal from Sevilla and Atletico Madrid respectively.

It is added, that, owing to the huge debts, the club have proposed to land the striker on loan with an obligation to buy for £6.5m next summer.

However, Celta are unlikely to agree to such kind of offer and will wait on other clubs to place their respective bids.

Barca currently top La Liga with 27 points.