Barcelona are reportedly closing in on a January deal for Philippe Coutinho worth £128m.

The Liverpool playmaker was widely expected to make a move to the Catalan outfit in the summer transfer window, handing in a transfer request in the hope of bringing about a switch that never materialised despite three bids being lodged.

Ernesto Valverde's side are understood to be gearing up for another attempt in January, and according to Mundo Deportivo, an agreement is already in place for the Brazilian to sign a five-year deal.

Coutinho has contributed to 15 goals across the Premier League and Champions League so far this season, including a hat-trick in the Reds' 7-0 trouncing of Spartak Moscow last night.

The 25-year-old, who has been with the Anfield side since 2013, is understood to have an agreement with the club under which he will be sold on in the winter window following the summer's unsuccessful attempts to leave.