The Brazilian playmaker’s loan spell at Vasco de Gama is due to end next Monday and the preference for both clubs and the player is he remains in his homeland.
But agreeing the terms of a permanent release for the 33-year-old, who still has a year remaining on his contract at Villa Park, has proven difficult.
Coutinho was hopeful Villa would agree to terminate his deal early but that would require the club to pay some of his remaining salary.
Reports in Brazil claim another loan, with Vasco paying a percentage of his wages, is now the most likely option for a player who has not appeared for Villa’s first-team in almost two years.
Coutinho became one of the club’s highest earners when he joined from Barcelona in a £17million move in 2022 but has gone on to make just 22 Premier League appearances.
Reports in Spain, meanwhile, claim Villa will travel to face Unai Emery’s former club Villarreal in their final pre-season fixture ahead of the new season.
The match would be the Spaniard’s first return to Villarreal since he left them to join Villa in November, 2022.
Villa have already confirmed fixtures against Walsall, Hansa Rostock, Eintracht Frankfurt, St Louis, Nashville and Roma as part of their warm-up schedule.