The Catalan giants are keen to move Coutinho off the books this summer following his return from a loan spell at Bayern Munich.
Tottenham have been linked with an interest in him but, according to Catalan daily Sport, he could move to Arsenal with the Gunners claimed to “love” the former Liverpool man.
Coutinho’s agent Kia Joorabchian shares a close relationship with the decision-makers at Arsenal and he is set to take one more client in Willian to the Emirates.
And it is claimed that the coming days could be decisive for Coutinho’s future, with Barcelona also not closing the door on other clubs.
Arsenal are the favourites to land him but Barcelona will happily encourage other clubs to enter the race to sign Coutinho.
No deal is yet fully in place and while Coutinho is still available, further twists and turns could happen.
Coutinho spent this season on loan at Bayern Munich, but the German champions passed on signing him permanently.