Chelsea are willing to discuss a loan arrangement with Barcelona for Philippe Coutinho.

Barcelona would prefer to sell the Brazilian, now on-loan with Bayern Munich, this summer but their £80m valuation is unlikely to be met.

The Blues would have to cover Coutinho's £11.5m annual salary to take the playmaker on loan for 12 months.

However, Sport reports Barcelona will demand a mandatory purchase clause if inserted into the deal.

The Catalan giants will apparently reduce their price tag to £53m if Frank Lampard's side agree to buy Coutinho at the end of next season.