According to Sport, Barca will bid €90 million plus bonuses on Tuesday as they look to secure the Brazilian's capture with the hope of unveiling him before the end of the week.
Barca believe the Brazilian global has the ability to not only replace Neymar alongside Lionel Messi and Luis Suarez in a star front three, but could also provide cover for 33-year-old captain Andres Iniesta in midfield.
That conversation, however, came before Barcelona banked £200m (NZ$354m) courtesy of Neymar's departure to Paris Saint-Germain.
The 24-year-old Portuguese had an underwhelming season at Camp Nou last term, scoring just thrice and setting up only one goal in his 30 appearances for the club.
"Ultimately if he wants to go he will go, as much as the club won't want him to".
Bellamy feels Coutinho would be ill-suited to filling Neymar's former role as a wide forward, and would be better waiting until Barca need to replace central midfielder Iniesta, possibly in 12 months' time.
Liverpool manager Jurgen Klopp recently said Barcelona can "save their energy" in their pursuit of Coutinho. So we want to keep our guys and add new ones.
Asked if he thought Coutinho would be playing for Liverpool or Barcelona after August 31, Gerrard replied: "I pray it's Liverpool". "But a transfer is also a question of timing".
Liverpool are now preparing for their Premier League opener against Watford on Saturday lunchtime as they look to begin the season with three points. "We are not in that situation".