Barcelona need to offload several players so they can fund a return to the Camp Nou for Neymar and one of the players they are willing to lose is Coutinho, 27.
Coutinho’s £142million move to Barca 18 months ago has turned into a nightmare because he has struggled to find his best form.
Manchester United have had a long-standing interest in signing him while European champions Liverpool and Paris Saint-Germain are also watching developments with interest.
But Coutinho isn’t interested in joining United because he still feels loyalty to his former employers Liverpool.
His reluctance to join United could open the door for him to return to Merseyside but more than likely it will see him offered in a player plus cash exchange to PSG.
Barcelona announced earlier this week they had completed a deal for Antoine Griezmann.
And with their determination to sign Neymar they could have an imperious attack which would also feature Lionel Messi and Luis Suarez.
But that could mean Coutinho is sold with a Premier League return a real possibility.
Barcelona have inserted a release clause of £717million into Griezmann’s contract after they signed him from Atletico Madrid.
Griezmann has been a long-term target for Manchester United and but the clause could now price them out of any future deal.
The World Cup winner, 28, has signed a five-year deal with the Spanish giants after they activated the £107m clause in his deal with Atleti.
“FC Barcelona has paid the 120 million euro buyout clause to release Antoine Griezmann from Atlético Madrid,” a statement read on their official website.
“The player will sign a contract with his new club for the next five seasons, through to 30 June 2024, with a buyout clause of 800 million euros.
“We will shortly be publishing the full schedule for the presentation of Antoine Griezmann as a new member of the Barca first team.”
Coutinho netted 11 times and provided five assists for Barcelona last season.