Coutinho is understood to be unsettled at Barcelona.
He only left Merseyside 18 month ago for a whopping £142m.
But despite Barca’s success, he has struggled to settle in Catalonia, with Lionel Messi and Luis Suarez constantly overshadowing him.
The La Liga club are understood to be trying to manoeuvre an opportunity to resign Brazilian superstar Neymar.
Barcelona sold the tricky winger for a world-record £198m a little under two years ago to PSG.
But like Coutinho, his mega move hasn’t worked out, leaving him scrambling for the exit door.
For the Blaugrana to fund a move for Neymar, they will need to offload a number of current first team stars.
And the unsettled Coutinho looks to be in prime position to be the first player on the chopping block.
United have a long-standing interest in the Brazil international, and could do with another quality attacker in their ranks with the impending departure of Romelu Lukaku.
However, according to the Express, Coutinho has no plans to ply his trade at Old Trafford any time soon.
They claim the 27-year-old will reject any approach from the Red Devils as he still feels a loyalty to Liverpool.
That could potentially pave a way for him to return to Anfield, with the Reds a man short in attack following the departure of Daniel Sturridge.
It seems Coutinho would also be open to a move, having delivered many a special performance in front of the Kop.
However, it is understood that Liverpool boss Jurgen Klopp is not keen on bringing his former player back any time soon, and is looking to only make small additions to his team this summer.
That leaves the most likely avenue for Coutinho to be a move to PSG via a player-plus-cash offer for Neymar.