The 22-year-old has established himself as a key player under Xavi Hernandez and is among the first names on the team sheet when available. Araujo is keen to remain at the Camp Nou for the foreseeable future, but his agents want to get him a deal that represents his value to the club.
Barcelona have been in talks with Araujo's camp for a number of weeks, but despite talks being at an advanced stage they are yet to reach an agreement. The La Liga giants put conversations on hold at the start of the year to focus on the January transfer window, and have resumed negotiations this month.
According to Spanish media outlet Sport, The Uruguay international's agents were surprised at the financial outlay the club made in January to bring in four players. They want the La Liga giants to show similar appreciation to Araujo in terms of the wages being offered, after their first offer of €3 million per season was turned down.
Xavi has reiterated his desire to keep Araujo at the club and the Catalan capital club is desperate to conclude talks well before the end of the season They are now ready to increase their offer in order to hasten the process. Moreover, Barcelona are aware that Araujo has attracted interest from more than one club in the English Premier League.
Manchester United and Chelsea have been alerted to Araujo's contract situation, and made offers to his agents. The English clubs are willing to more than double Barcelona's offer, while also offering a hefty signing on fee to the centre-back.
However, Araujo wants to sign a new long-term deal with Barcelona as he sees his future at the Camp Nou. This is likely to help Barcelona, but they will have to improve upon their initial offer to ensure one of Europe's top young talents does not seek pastures new in the summer.