Arsenal are reportedly back on the track of Philippe Coutinho after Bayern Munich confirmed they would not activate his purchase clause that stands at €120m.

Owned by Barcelona, the former Liverpool man has been on loan for the past two seasons with Bayern Munich, who had the chance to purchase him for a rather large sum of money, much more than Arsenal will have available when the window opens.

Karl-Heinz Rummenigge, chairman of Bayern Munich, has already confirmed their purchase option for Coutinho has expired. Rummenigge didn’t rule out bringing the player back, though, but it seems unlikely.

Now, according to Le10Sport, Arsenal are after him with Mikel Arteta an admirer of the player.

Coutinho has 32 appearances, nine goals and eight assists for Bayern this season. He isn’t currently available for selection, despite the Bundesliga’s return, having minor surgery to remove loose joint fragments in his ankle last month. Bayern won 5-2 on Saturday against Eintracht Frankfurt.

The player’s agent, Kia Joorabchian, admitted in April that Coutinho would love to come back and play in the Premier League.

This fueled the rumours of a potential transfer to Arsenal, with Barcelona reportedly keen to move the 27-year-old on and the Gunners regularly linked with him. Now the French publication have poured more fuel on that fire.

Of course, it’s only really possible if Barcelona are willing to send Coutinho on another loan. There’s no way Arsenal can or will pay €120m, or even half that.

Any permanent transfer would seem to be off the table unless the two clubs get extremely creative.