The arrival of Neymar at the Camp Nou in the summer prompted questions about Pedro's long-term future with Barcelona and, although he has scored 11 goals in La Liga this season, speculation persists.
Liverpool and Arsenal have both been linked with the Spain international but SkyBet has the Anfield club as narrow favourites to clinch a deal this month, with Brendan Rodgers' side at 5/1.
Arsenal are only slightly further back at 6/1 and, given their clear need for attacking reinforcements, it is something of surprise that Liverpool has been identified as a more likely destination for Pedro.
The Gunners are in the market for another goalscorer given that Theo Walcott has been ruled out for the remainder of the season with anterior cruciate ligament damage, although Pedro may represent a more sizeable investment than Arsene Wenger is prepared to make in January.
Pedro has a release clause written into his contract, which expires in 2016, of an exorbitant €150 million and any suitors would have to convince Barcelona to sell if unable to meet this buyout.
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