Both parties had already been preparing to sign off on a five-year contract, only for "financial and structural obstacles" to block the deal, with the Catalan giants struggling financially amid the coronavirus pandemic.
As a result, the Copa America winner is available this summer, and PSG have previously been strongly linked with his services.
Manchester City are also one of a select few clubs potentially capable of affording the 34-year-old, but according to Romano, PSG are already in direct contact with the experienced attacker.
The former Newell's Old Boys youngster, who won 10 La Liga titles and four Champions League crowns during his time at Barcelona, is still said to have a close relationship with PSG attacker Neymar. body check tags ::