The pair played together at Barca, where Busquets was Dembele's club captain.
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The Inter Miami midfielder even rates Dembele ahead of Barca whizkid Lamine Yamal in terms of the Ballon d'Or vote.
He explained: "Dembélé has been better than the others and more consistent. We know what kind of player he is, the difference he can make, and what he's capable of offering.
"Some of the Barcelona players would also deserve it, but I don't know what the voters will decide."