Talks between Barcelona and Liverpool playmaker Philippe Coutinho are at "an advanced stage", according to reports in Spain.

The La Liga giants have been linked with the Brazilian all summer, with a recent report even claiming that the Reds had rejected a bid of £89m for his services.

With Neymar on the brink of completing an unprecedented £198.6m move to Paris Saint-Germain, new Barca boss Ernesto Valverde is in the market for replacements and will have significant funds at his disposal.

Liverpool have repeatedly insisted that Coutinho will not be sold this summer, with manager Jurgen Klopp remarking yesterday that the Spanish side "can save their energy".

According to respected Spanish journalist Marcelo Belcher, however, Barcelona are not prepared to give up on the Brazilian and are "locked in negotiations with Liverpool trying to put together a deal".

Barca are said to have already agreed personal terms with the player and are now preparing a bid of £96m with the hopes of concluding the deal before this weekend.

Coutinho, who signed a new long-term deal in January, has been at Anfield since 2013, scoring 34 times in 138 Premier League appearances for the club.