Marca says Olmo is a target for the Spanish-influenced Al-Qadisiyah ahead of the summer market.
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Representatives from the Saudi club have traveled to Spain to watch him play in recent matches. However, the Saudi club has not yet formally expressed their interest, although they have made informal contact with some Barcelona executives.
The Spain international, for his part, has not received any concrete indication of a desire to sign him, nor is he aware of any interest from the club.
Olmo, however, has no intention of leaving Barca, where he has a deal to 2030.
Al-Qadisiyah are prepared to submit a massive contract offer to the winger in the hope of giving him second thoughts about staying with the Blaugrana.