Bordeaux coach Gus Poyet has hinted he expects Malcom to leave this summer.
Poyet has confirmed they fought off offers from the Premier League for the Brazil attacker last month, but concedes things could change in June.
He said: "He's a different player who can decide a game on his own.
"In January, we suffered because he was close to joining the Premier League. We must be prepared because he will leave sooner or later."
Arsenal and Tottenham are fighting for Malcom's signature after both having bids turned down in January.