By Wayne Veysey

7th Jan, 2022 | 7:00am

Sources: Major update on Aston Villa bid to sign Coutinho after late-night development

Aston Villa have submitted a loan bid for Philippe Coutinho as they look to win the race for his signature, Football Insider has learned.

The Midlands giants are the current frontrunners to land the Barcelona playmaker and held talks over a potential deal on Thursday night.

A recruitment source has told Football Insider that Villa have tabled an offer to take Coutinho, 29, on loan for the rest of the season.

It would involve a multi-million pound fee being paid to Barcelona and the potential to be converted into a permanent deal in the summer.

The Spanish giants want £50million for their club-record signing, who joined from Liverpool for £146m in January 2018.

But they accept they are not going to get such a sum this month for a player on the fringes of their starting XI.

It means a loan, or a loan-to-buy, could be agreed as early as this weekend.

This site revealed on Thursday (6 January) that Villa are in pole position for Coutinho while Arsenal have also pushed hard for his signature.

A number of other Premier League clubs have expressed an interest in the attacking midfielder but he does not want to join the likes of Newcastle United and be involved in a relegation battle.

Steven Gerrard is leading Villa’s pursuit for a player he knows well from his days at Liverpool, where they were teammates when Brendan Rodgers was the manager.

That relationship could prove pivotal in the final decision of Coutinho as he weighs up the options in front of him.

Coutinho was regarded as one of the finest players in the world during his days at Liverpool.

But he has struggled to live up to his transfer fee at Barcelona, and has accumulated just 608 minutes from 16 appearances in all competitions this season.

In other news, Aston Villa are also ready to blow Newcastle out of the water to sign Premier League star.