The 22-year-old wants a move to Camp Nou with the obstacle being Barcelona and Inter agreeing terms.
The transfer may include a Barca player in addition to cash for Lautaro, who has a €111m release clause.
Blanco spoke to Radio La Plata in Argentina and his feeling was that an agreement isn’t far off.
“I have a feeling that Lautaro Martinez’s move to Barcelona is close to white smoke, even though I haven’t spoken to him lately.” said Blanco.
Racing can expect to profit if the deal does go through thanks to a sell-on clause in Lautaro’s sale.
Blanco added: “Bonuses for Racing? Yes, though that is talk for later. Whatever amount it is, it will be welcome.
“When we sold Lautaro to Inter, we had the foresight to keep a percentage for a resale, even if the €2m to remove that clause was tempting.
“We decided to gamble on his future, without knowing if and when that was going to happen.”
Martinez has become one of Europe’s most coveted strikers after his 16 goals for Inter this season, including five in the Champions League.