Barcelona have a chance to salvage their season when they face Napoli in the second leg of their Champions League last-16 tie on Saturday.
The Catalan giants finished second in La Liga, suffered an early exit from the Copa del Rey and face a tough task in overcoming Napoli, with the tie poised at 1-1.
The outcome of that second leg may well determine whether Quique Setien remains in charge for another season.
Either way, incoming activity seems certain at Camp Nou this summer as Barca look to win back their domestic crown from Real Madrid.
Thursday morning's Barcelona transfer talk news roundup:
The Gabon international ended the 2019-20 campaign in superb form, netting three braces in the Gunners' final four matches, including in their FA Cup final triumph over Chelsea.
Having helped Arsenal to silverware, journalist Fabrizio Romano claims that Aubameyang is now looking to leave the club on a high and is keen to join Barca.
However, the Catalan club have yet to officially table an offer and the striker is now playing a waiting game with regards to his future.
Philippe Coutinho seemingly has no future at Camp Nou after spending the 2019-20 campaign on loan with Bayern Munich.
Bayern have turned down the chance to sign the Brazilian playmaker on a permanent basis and Barca are now running out of other options.
With a lack of permanent bidders available, Spanish outlet Sport claims that Barca are in advanced talks with Arsenal over a loan move for Coutinho.
The 28-year-old joined the La Liga side in a £142m deal two-and-a-half years ago but has failed to make an impact in Catalonia.
Lionel Messi recently talked up his side's chances of signing Lautaro Martinez from Inter Milan, but Barcelona face having to offload a player if they are to fund a move for the Argentina international.
That is according to reports in Spain that suggest Setien's side will abandon plans to bring in Martinez if Luis Suarez decides to stay put for another year.
However, should Suarez accept an offer to move to Major League Soccer, Barcelona are likely to reopen discussions with Martinez and Inter.
The 22-year-old has scored a combined 19 goals in the Champions League and Serie A this season.