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He has bagged four goals and three assists under Steven Gerrard – his former Liverpool teammate who convinced him to join Villa, despite strong interest from elsewhere.
It is believed Coutinho's six-month loan at Villa includes an option to make the deal permanent for £33 million this summer, but other possibilities could be on the table soon.
The report goes on to claim that Eddie Howe's side are 'willing to pay a million' in bonuses to convince the Brazilian to join their so-called 'mega project.'
Meanwhile at the Camp Nou, the Catalan club believe Aston Villa continue to be 'their priority' but will not accept discounts should another offer arrive from elsewhere.
Despite the previously mentioned report, another outlet from Spain are claiming that Coutinho is not considering the prospect of playing for Newcastle.
Mundo Deportivo say the former Liverpool midfielder is only interested in joining two clubs – Aston Villa and Arsenal.
Mikel Arteta's side are believed to be another club that are interested in Coutinho's services after his successful return to the Premier League this year.
“I am very happy,” he told ESPN.
“It was my wish to return to play in England and play in the Premier League again. I’m glad I’m having this opportunity and I’m very happy.
“I work hard every day to play well and contribute with good results for the club I play for. And of course, I really wanted to return to the Premier League, I am at a brilliant club that makes me very happy."
Thoughts on Coutinho's future? Do you think he would be a good signing for Newcastle?
Let us know in the comments.