Marca are reporting that Coutinho's confidence has taken a massive hit after his recent performances and that he's now at "rock bottom".
Coutinho has shown little discipline on and off the field at the Camp Nou, while he has lost his place in the team with Arthur Melo and Arturo Vidal coming in.
Manchester United are reportedly "in talks" over a potential move which would cost in excess of £100m and the Evening Standard claims that Barca want Neymar back as a world-class addition to their ageing strike force.
According to Mundo Deportivo, Manchester United are monitoring Coutinho's situation and have already approached the midfielder's representative to register their interest and ask about the possibility of a transfer.
With Coutinho only playing 34 to date, the Reds are still due £13.2 million if their former player reaches a century of league games.
Should they win the Champions League and Coutinho be part of the squad, a further £4.4 million payment is due to the Anfield club.
Coutinho instantly won silverware upon his move last season, joining up with a Barca side who were well in front in the race for the La Liga title.
Barcelona, on the other hand, claim that they were flawless within their rights to forgo the 26.7 million euro payment as he had already begun negotiations with PSG at the time. Once again, they would only pay that if Coutinho is still at the club.