Chelsea remain favourites to land Barcelona midfielder Philippe Coutinho, despite new attempts from Arsenal.

The Daily Express says Chelsea have emerged as favourites to land Brazilian playmaker Coutinho after Bayern Munich opted not to exercise an option to buy.

The former Liverpool man has spent the second half of this season on loan at the German giants, but they aren't interested in meeting the £110million asking price.

Barca are willing to take a massive hit on the £105m they paid upfront for the 27-year-old and could accept as little as £80m.

But the coronavirus crisis means that few clubs will be willing to invest such large sums in players after being starved of income for almost three months.

Frank Lampard is in the market for a big-name signing and Coutinho is a player they have been paying close attention to.

Barcelona have indicated they are maybe willing to do business on another loan deal, but it will cost a loan fee of £10m-plus all of his £250,000-a-week wages.