Bellerin, who left Barça's famed La Masia school to join Arsenal at the age of 16, has been heavily linked with a return to his former club for some time. The most recent speculation was just this week, claiming that Ousmane Dembele could be a makeweight at the Gunners' request.
Bellerin is rumoured to be weighing up his future in north London after Arsenal's poor season, but potential suitors Juventus are said to have pulled out of the running this week.
It leaves few options if Bellerin really is ready to quit Arsenal to kick on in his career.
According to Mundo Deportivo, despite the renewed speculation about Bellerin, Barça have no interest in giving up on Portugal international Semedo just yet.
The 24-year-old, who wears Barça's number two shirt, is contracted until the summer of 2022 and has been a regular starter when fit and available. He has unfortunately missed the last two La Liga games as a result of a hamstring problem and was suspended in the Champions League last 16 clash against Chelsea last month.
For now, he remains Barça's man.