The report suggests that Real Betis were on track to sign the 27-year-old, but they need to find additional funds in order to register several new signings.
This has led Arsenal to offer Bellerin to Barcelona, who still want to part with the player this summer.

Bellerin has been in discussions with Arsenal about terminating his contract.
This has left the Spanish defender in a precarious position, with his time at Arsenal almost certainly up, but no guarantees over whether he can join any of his preferred clubs.
Arsenal tell Barcelona they can sign Bellerin
A move back to Barcelona would represent a return to Bellerin’s first professional club.
The Gunners poached a 16-year-old Bellerin from their notorious La Masia academy, and he’s since gone on to make 183 Premier League appearances.
Bellerin spent last season on loan at Real Betis, helping Los Verdiblancos to their first major trophy win in 17 years, defeating Valencia in the Copa Del Rey final.

Arsenal now have plenty of options at right-back, including Takehiro Tomiyasu, Cedric Soares and Ben White is capable of filling in as a full-back if needed.
Tomiyasu has already been told he may not start as many games for Arsenal as he did last season, as they look to manage his injury problems, but even this isn’t enough to convince Arteta to keep Bellerin around.
The four-times capped Spanish international only has a year left on his current deal, and although Arsenal seem unlikely to get a fee for Bellerin this summer, a mutual parting is the best course of action at this point.
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