Aston Villa on red alert as Arsenal could make Philippe Coutinho transfer U-turn after Mikel Arteta comments

Arsenal are reportedly 'studying' the possibility of signing Philippe Coutinho in the summer, despite Aston Villa being frontrunners to secure his signature on a permanent basis.

Coutinho returned to the Premier League with a point to prove in January, as he joined Villa on loan until the end the season. It came after a difficult four-year stint at Barcelona, where the Brazilian struggled to justify his huge £142million price tag.

He is now set to leave the Catalan giants in the summer and Villa have an option to buy in permanently, but could have competition to complete the signing. Reports claim Arsenal are also monitoring the Brazil international ahead of a possible swoop.

Coutinho has made seven goal contributions in his first 10 games for Villa, since arriving on loan nearly three months ago. He joined Villa to rediscover his confidence playing football and for the opportunity to play under his former Liverpool teammate Steven Gerrard.

But according to Sport, the Gunners are exploring the possibility of securing his services when his loan spell with the Midlands club expires at the end of the campaign. And Mikel Arteta has already revealed his admiration for the 29-year-old Brazilian having praised his abilities ahead Arsenal's trip to Villa Park at the weekend.

Speaking in a press conference, the Arsenal boss said: "We looked at many different players with qualities that he obviously had and in the end, we went with a different option. His ability to create goals, and to create chances, and to unlock spaces when they don’t exist. That’s a quality that he had (and continues to have), when he was at Liverpool."

Prior to Villa's 1-0 defeat to Arsenal on Saturday, Villa boss Gerrard claimed that he wasn't