According to Ed Aarons of the Guardian, a fourth offer for the player has been put on the table by the Blaugrana:
While the deadline for English clubs to sign players was on Thursday, La Liga teams have until 11:59 p.m. on Friday to wrap up any new signings. It means Coutinho could still become a Barcelona player.
However, at this late stage, it would be a huge surprise if Liverpool opted to sell Coutinho. According to Paul Joyce of The Times (via the BBC's Neil Henderson), the Reds wanted to spend big on Virgil van Dijk and Thomas Lemar on the final day of the transfer window, though the only arrival was Alex Oxlade-Chamberlain from Arsenal.
According to Simon Hughes of The Independent, Liverpool's determination to keep Coutinho stems from a desire to change the club's image.
"[Owner] Fenway [Sports Group has] been determined to change Liverpool's reputation, and by not relenting to Coutinho's wishes, for the time being at least, it sends a message to their own players as well as rivals that this is not a selling club," Hughes noted.
Liverpool released a statement early in the transfer window saying they would not be entertaining any offers for Coutinho despite Barcelona's admiring glances and substantial bid. The player then issued a transfer request in an attempt to get his move.
According to journalist Guillem Balague, despite their interest, Barcelona seem resigned to not signing one of their top summer targets:
The pursuit of the player has been somewhat desperate from the Blaugrana, who have sought to re-establish their reputation.
Paris Saint-Germain's decision to part with £200 million to sign Neymar was a huge blow for the Catalan club. Not only did they lose a world-class talent, but any team Barcelona approach over signing a new player is aware of just how flush they are.
In Ousmane Dembele, Barcelona have made a tremendous capture from Borussia Dortmund. Still, Grup 14's Rafael Hernandez hasn't been pleased with the club's work in the transfer window:
Time may be ticking to get deals done, but while elite players around the world are away on international duty, doors may open late on for Barcelona. Undoubtedly, there are areas in the squad that require an injection of class.
Coutinho will surely remain a Liverpool player at this point, though, regardless of the amount of money the Catalan giants are willing to put on the table.