Munir El Haddadi
Munir El Haddadi scored a goal in his debut at Barcelona this season Reuters

Barcelona have agreed a new deal with prodigy Munir El Haddadi's to raise his release clause to €35m (£27.6m) in order to ward off Premier League giants, such as Arsenal and Chelsea, from the Spanish prodigy.

The 19-year-old striker's future at the Nou Camp has been under scrutiny since the start of the season after it was revealed he was still on a youth contract at the Catalan side, meaning any club could secure his services by paying his reduced £9.4m (€12m) release clause.

The price looked to be a real bargain for a player considered one of the biggest prospects to emerge from La Masia.

Even though Barcelona have Lionel Messi, Neymar, Luis Suarez and Pedro in his position, El Haddadi had an impressive start to the campaign under Luis Enrique, scoring a goal against Elche in his first-team debut while even earning a spot in Spain manager Vicente del Bosque's squad.

Reports in Spain claimed Arsenal and Chelsea considered meeting his price tag, while West Ham and Swansea were also interesting in securing his services on loan.

Arsenal manager Arsene Wenger is said to be a big fan of the Spaniard, having already tried to lure him to north London last year when Munir became the biggest sensation of the Barcelona Under-19 squad that won the Uefa Youth League.

Reports in Spain earlier this season claimed Barcelona were expected to offer Munir a new lucrative deal to avoid him to following in the footsteps of other youngsters, such as Cesc Fabregas or Gerard Pique, who left the Camp Nou in the past for a experience in the Premier League.

After weeks of negotiaitons the Catalan club have now confirmed the agreement.

"Munir El Haddadi signed an updated contract on Tuesday afternoon in which his release clause, in accordance with the new agreement, rises to some 35 million Euros," the club confirmed.

"The signing took place at the Ciutat Esportiva Joan Gamper and also present were the Sporting vice- president, Jordi Mestre, and director of football Andoni Zubizarreta."