The 29-year-old's contract at The Emirates expires in June and the Gunners are willing to allow him to leave for free in summer or potentially cash-in for a cut-price deal in January.
It is expected that Liverpool will remain uninterested in Barcelona's offers, however, if the Catalan side up their offers and the player hands in another transfer request, we may well see Coutinho unveiled as a Barcelona player in the upcoming window.
Mesut Ozil is one of the most technically gifted footballers of our time - and he'd have been a valuable addition to either squad. "But when he's not happy, he doesn't".
According to Catalunya Radio, Barca have already held talks with Ozil's representative Dr Erkut Sogut and personal terms with the Germany global have been agreed.
Former Gunner Martin Keown, who has been vocal about Ozil's perceived lack of effort, has told the Mail: "I don't think he would be a bad signing (for Barcelona)".
And reports in Spain claim he has an agreement with Barca for a January move.
Now only that, even if Barcelona wanted to pay such a salary, there's worry over whether Ozil would fit in with the club's dressing room.
Campbell was asked who should Arsenal turn to in the transfer market to replace the likes of Alexis Sanchez and Mesut Ozil.
Ozil is seemingly on the brink of leaving Arsenal in January.