Sport claim that the La Liga giants have already re-opened negotiations to sign the Brazilian ace after having identified the playmaker as the "number one priority" to bolster Ernesto Valverde's side ahead of the second part of the campaign.
Barcelona desperately tried to sign the Liverpool ace during the summer transfer window with the club looking for a creative midfielder to become into the long-term replacement for 33-year-old Andres Iniesta.
The Catalans had multiple offers rejected – one said to be worth €80m plus €30m in add-ons – before deciding to abandon the pursuit on deadline day after Liverpool asked them to pay €200m.
Barcelona instead signed five new players in the form of Paulinho, Nelson Semedo, Gerard Deulofeu, Ousmane Dembele and Marlon Santos, with the Brazilian being sent to Nice on a two season-long deal in order to continue his development.
But last month Barcelona CEO Oscar Grau suggested that the club would make a new effort to sign the Liverpool ace in January if Vaverde considers his addition as a priority.
"We are prepared to sign Coutinho or other players but the proposal has to come from the technical staff. We will do our best to meet their demands," Grau said during a press conference in which he revealed a club record budget for the 2017-2018 campaign of €897m.
"If there are arrival maybe there will be also departures. We are putting all the resources of the club [to improve the squad]. We could [sign in January]. We will study it if it necessary. The financial year runs until July so sales can also be made at the end of the season. If this is the case [If Barcelona sign players in January] we have to generate income and maybe someone have to leave. We will see it."
Sport says that Barcelona are monitoring other alternatives around Europe but Coutinho remains a the top priority.
Valverde wants someone who could make an instant impact in his squad ahead of the second part of the season and believes that the Liverpool ace could play both in the middle of the park and on the wing.
The Spanish publication says that Coutinho's entourage understand that Liverpool would be willing to cash in on this time if Barcelona come calling with an offer worth €150m.
The Catalans want to lower that fee and have thus already begun talks with the hopes of softening Liverpool stance and finally lure him to the Nou Camp in January.
Barcelona, according to the report, would be ready to offer €120m plus add-ons to acquire his services but the La Liga giants want to make the payment in different installments – while the Merseysiders would potentially demand the money upfront.
Meanwhile, Sport points out that Coutinho still wants to join Barca and "will make every effort for the deal to be completed in January".
The Spanish publication adds that the Liverpool ace has asked his agents to snub the overtures of other suitors like Paris Saint-Germain who will be ready to join the race in the summer.
Earlier this week former Liverpool star Luis Suarez encouraged Barcelona to sign Coutinho after claiming that he would bring "a lot" to Valverde's side.
"A lot," Suarez replied when asked what Coutinho could bring. "I know him as a person and as a player because I played with him, but everyone knows what Coutinho can contribute. He is a footballer, who today, plays at a very high level."