Arsene Wenger says Julio Baptista's future at Arsenal is dependent on whether Jose Antonio Reyes remains at Real Madrid.
Baptista and Reyes swapped clubs in loan deals last summer and the Brazilian has, having made a sticky start, impressed of late in London.
It is believed that Baptista wants to remain at Emirates Stadium, but the club have not yet offered him a deal to stay beyond the end of the season.
It seems Wenger would like to keep the Brazilian on the books at Arsenal, but admits that should Real decide not to keep Reyes then he may be forced to send him back to the Spanish capital.
"The future for Baptista depends on Real Madrid as well," said Wenger. "It is linked [with Reyes]. He (Reyes) is injured at the moment with a knee problem.
"The season in Spain finishes later than us, so I do not know what they will decide.
"Jose wants to stay in Spain and Julio enjoys it very much with us.
"The passion, the spirit and the fact he plays in the team - he is very positive about his experience here."