If the numerous reports are to be believed, Philippe Coutinho will be a Barcelona player by the end of the January transfer window.

The Brazilian has reportedly told Liverpool that he no longer wants to play for the club with Barca readying a huge bid for the midfielder.

The Merseysiders are highly unlikely to accept anything less than £130 million, meaning Coutinho will become the second-most-expensive player in history behind Neymar.

When you think about the crazy amount Liverpool are set to receive for Coutinho, the decision to sign him for just £8.5 million back in January 2013 seems incredible.

Meanwhile, Inter Milan must be kicking themselves for allowing him to go so cheaply.

But there’s another team that is surely angry at not rating Coutinho highly enough - Real Madrid.

Marca have produced a report on how Madrid had the chance to sign Coutinho but, instead, opted for fellow Brazilian Alipio for the same price - €2.5 million euros - back in 2008.

Miguel Angel Portugal, who was the club’s technical director at the time, has revealed what really happened.

“Coutinho had already marvelled with Vasco de Gama and was a name who had been mentioned at the club,” Portugal said.

“All of the reports about him were favourable and looked promising to sign him and the decision was made to bring him to Real Madrid.

“Everything was going well and everything was perfect and it seemed that things were going to work out for everyone, but when I returned from Brazil I found a surprise waiting for me.

“The president Ramon Calderon told me that we had signed Alipio, a 16-year-old who they had watched with Rio Ave and who the scouts found to be a very interesting player.

“For essentially the same price that Real paid for Alipio, they could have signed his compatriot instead. It is incredible but true.”

A week later, Inter snapped Coutinho up for the same price - €2.5 million.

WHAT HAPPENED TO THE PLAYER MADRID SIGNED?

But whatever happened to Alipio? He was dubbed the 'New Cristiano Ronaldo' when Los Blancos signed him but it's safe to say he didn't quite live up to that billing.

Well, he never actually made an appearance for Madrid, leaving the club just three years later. He joined Benfica but also failed to force his way into the first-team there either.

Since then, he’s had spells in Cyprus with Omonia and Greece with Apollon Smymi before returning to his native Brazil to play for Luverdense, Vitoria and Atletico Goianiense.

He currently finds himself at Vila Nova in the second division.

It’s safe to say Madrid signed the wrong player all those years ago…