Barca have failed to register summer signings Olmo and Pau Victor for the second-half of the season after not meeting the financial requirements laid out by LaLiga.
Olmo has a clause that means he can break his contract in the event the club fails to register him.
His agent Andy Bara has been clear that they are not looking for a move. There have been rumours that a loan for the rest of the season could be arranged.
But Mundo Deportivo says that it is not a possibility because a player must first be registered in order to be loaned.
As such, Olmo must choose to break his contract and leave as a free agent or sit out the next six months.
Víctor does not have the same clause, which means he could be forced to sit on the sidelines until the summer.