Dembele's current deal expires at the end of the season, but it remains to be seen if the Frenchman will sign an extension in the next sixth months.
However, reports in Spain claim that Dembele is asking for £700,000 a week, which is highly unlikely due to the club still needing to offload players to lower their wage bill.
Spanish publication Diario Sport have now reported that the Catalan giants will make a move for Wolverhampton Wanderers winger Adama Traorer if Dembele rejects a new deal.
Traore came through the Barcelona youth academy but left the Camp Nou in 2015 for regular game time in England, where he has now established himself as a serious threat with Wolves.
The report claims Traore still has a good relationship with some of the players and staff members at the Camp Nou.
Meanwhile, reports in England claim that Tottenham Hotspur are also keen on a move for the the 25-year-old winger, who is yet to score this season.