Rakitic's current deal runs until the summer of 2021, but it is understood that the midfielder is looking for improved terms having reportedly turned down a move to Paris Saint-Germain during the summer.
However, Bartomeu has revealed that Rakitic will have to wait if he wishes to sign a new deal.
"For this campaign, we will not be able to go through with the gesture that Rakitic is asking of us," Bartomeu told Onda Cero. "Next season we can look at it in relation to new revenue."
Rakitic has made over 200 appearances for Barcelona since a 2014 move from Sevilla.