On-loan from Manchester United, Rashford can be signed permanently for €30m at the end of the season.
Both Rashford and Barcelona coach Hansi Flick have expressed a desire to continue their collaboration.
At the same time, Barcelona's financial situation means that a permanent transfer is not yet clear.
According to Marca, Barca sporting director Deco has therefore come up with two options if the Rashford deal doesn't go through.
One of the players on the club's roster is Abde Ezzalzouli, formerly of Barca.
The winger plays for Real Betis and has had a strong season in La Liga.
After a somewhat uneven first season at the club, the Moroccan has taken a clear step forward under coach Manuel Pellegrini.
This season he has become a more important player in the team and is credited with nine goals and seven assists.
Another name on Barcelona's list is Jan Virgili.
The winger left Barca for Mallorca last summer after opportunities for playing time in the first team were limited.
The 19-year-old winger has had a strong first season in La Liga and has contributed six assists so far.