Tottenham Hotspur and Manchester United have been linked with the young winger.
As reported by UOL Esporte, Tottenham Hotspur have had a £31million bid for Bordeaux winger Malcom rejected, but that is unlikely to be the end of Spurs' interest given the money they splashed out on Davinson Sanchez last summer and their need for a quality winger.
The problem is, fellow suitors Manchester United could have a big advantage in the race for the Brazilian given their lack of immediate need for another wide man.
As much as Jose Mourinho's side needs more quality in attacking areas, a move for Malcom is unlikely to be their only January business, and any move for the 20-year-old is more likely to be a long-term investment than an immediate solution.
According to the Daily Mail, United have already opened talks with Bordeaux with the aim of signing the player next month but loaning him back to the Ligue 1 side for the rest of the current campaign.
That is a move that has benefited Tottenham in the past, with Spurs signing Dele Alli from MK Dons only to loan him back for six months, being patient in order to ultimately get their man.
The problem for Tottenham is that their chairman Daniel Levy is not going to spend a huge sum of money on a player only to watch him excel elsewhere until next summer.
United can do that, but Tottenham are in need of quality reinforcements in wide areas right now, meaning that if it comes to a straight fight between the pair, Levy may have to blow his Premier League counterparts out of the water to convince Bordeaux to wave goodbye to their prized asset now.