Coutinho spent last season at Bayern Munich on loan, but has since returned to his parent club after the Bavarians opted not to trigger a purchase clause to keep him.
The midfielder has found life difficult at the Catalan club, with the Blaugrana looking to offload the player again this summer.
It is claimed that Tottenham are likely in pole position at present to capture Coutinho.
The Lilywhites may have to fend off interest from Arsenal and Chelsea, who have also been linked, if they are to snap the Brazilian up from La Liga giants Barcelona.
Coutinho excelled in the Premier League with Liverpool and will be looking to roll back the years if he does head to England.
The ex-Inter star’s contract with Barcelona runs out in the summer of 2023.
The Barcelona man made 23 Bundesliga appearances for Bayern Munich during the 2019/20 season, scoring eight goals and registering six assists.
