Arsenal currently second favourites to sign Coutinho

By Agency

Reports that Arsenal only had £40 million to spend on transfers this summer turned out to be spectacularly wide of the mark.
The Gunners had already spent £33 million on William Saliba and Gabriel Martinelli before smashing their club-record fee to sign Nicolas Pepe from Lille.
The Ivorian winger, who scored 23 goals in 41 games last season, set the Gunners back a cool £72 million - taking the club's summer expenditure to over the £100 million mark.
The north London outfits have also secured the services of Dani Ceballos from Real Madrid until the end of the 2019/20 campaign.
And with just days remaining before the transfer window closes - it shuts for English clubs on Thursday - it seems Arsenal aren't done just yet.
Various English newspapers - including The Sun - are citing Spanish sources as reporting that Arsenal are set to hold talks with Barcelona on Sunday as they look to seal a loan deal for Philippe Coutinho. The Gunners face the Catalan giants in the Joan Gamper trophy at Camp Nou on the same day.
beIN Sport also tweeted on Saturday afternoon: "Arsenal are preparing to start negotiations with Barcelona to sign Brazilian Philippe Coutinho." The signing of Coutinho would be a major coup for Arsenal, despite the fact the 27-year-old has flattered to deceive at Barça over the past 18 months.