The Brazil star joined the Cherries at the start of 2026, as part of a £25M deal from Vasco da Gama, and he went on to net five goals in his debut Premier League campaign.
That form secured a spot in Carlo Ancelotti's Brazil squad for the 2026 FIFA World Cup and a burst of transfer interest over the summer.
Bournemouth held firm over their plan not to sell him or other key players, including Alex Scott and El Junior Kroupi, but the situation could change in 2027.
As per reports from The Athletic's transfer expert David Ornstein, Rayan's contract at Bournemouth includes a £120M release clause, which will become active from the end of the 206/27 season.
He will be available for possible offers in January, but Bournemouth are free to demand what they want in that instance, with the 20-year-old potentially valued higher based on his previous form.
PSG and Liverpool both expressed interest in a move, but following Bradey Barcola's switch from the former to the latter - plus Ferran Torres' move to Paris - they might not reignite those links next year.