Barcelona president Joan Laporta is still optimistic of convincing Arsenal to release Cesc Fabregas.
The Spanish giants were turned down earlier this week when they offered a bid for the 23-year-old Gunners captain, who has long been linked with a return to Camp Nou after plying his trade there as a youngster.
Fabregas is contracted at the Emirates until 2015 but last month revealed his desire to return to Barca, and the club seem keen to make his dream a reality after reportedly submitting a written offer of €35million (around £29m) to the London club on Tuesday.
"It's a price that we consider to be his market value. Arsenal have rejected it. Now the sporting director (Txiki Begiristain) must decide what should be the next step," said Laporta.
"We are in negotiations and we'll see how they turn out. At times, these operations are resolved at one speed, and others at another.
"We have to do everything we can to convince them (Arsenal) that the best thing for all is to reach an agreement," Laporta said in Spanish daily AS.
The Barca president remains hopeful of bringing the Spanish international to the club, but admits the Gunners will be reluctant to relinquish their star midfielder.
"The club have full confidence that Arsenal will end up understanding the situation," Laporta told the club's official website.
Ideally, Laporta would like to "have the transfer closed as soon as possible, before the start of the World Cup".
He added: "But it will be difficult because Arsenal are entitled to stand firm and that must be respected."
Laporta also shrugged off the idea that Fabregas could invoke FIFA's Article 17 rule to force his departure from Arsenal.
Article 17 regards compensation for breach of contract.
"I'm not sure if Cesc will take this course, but we want to find an agreement by talking with Arsenal," said Laporta.
"We respect Arsenal a lot, we must have in-depth dialogue and follow this path."