The Brazilian playmaker has failed to meet his estimated value of £ 130m since moving to Camp Nou in January 2017, with the Brazilian having played 96 games in all competitions.
Coutinho has recently returned to action after suffering a serious knee injury, Barcelona will be concerned about further progress being made at a time when they need to be reduced.
According to El Chiringuito TV, Premier League giant Liverpool want to take advantage of the situation by negotiating a return to Anfield for the former player.
The report also revealed that the 29-year-old is set to return to Anfield for the 2nd time, knowing that Jurgen Klopp’s side could benefit from a less-than-perfect midfielder and three top players.
Coutinho has less than 2 years left on his contract at Barcelona and is unlikely to renew.