The Reds rebuffed Barcelona all summer as they managed to hold onto their star playmaker.
Despite Coutinho handing in a transfer request at Anfield, the club refused to sell.
Barcelona saw three bids rejected and bid as high as £118m for the Brazilian.
And even after the UK transfer window closed on Thursday night, Liverpool fans were left fretting as La Liga clubs could still buy players up until 11pm last night.
According to Spanish newspaper Mundo Deportivo, Barcelona and Liverpool were in talks until the final hours yesterday.
It is said Liverpool were demanding a fixed price fee of £146m for Coutinho.
And the 25-year-old would not have moved to the Nou Camp until January as part of the deal.
But Mundo Deportivo add Barcelona were only willing to offer £110m plus £36m in add ons.
They also wanted Coutinho in their squad now rather than midway through the new season.
No agreement could be reached, though, meaning Coutinho will stay at Liverpool.
Jurgen Klopp has included the creative midfielder in his 25-man Premier League squad too.
