Barcelona tried to re-sign Neymar from the French capital last summer but to no avail.
The player was understood to be very keen on a return to Barcelona, having endured a fraught two-year spell in Paris so far.
PSG, however, made it difficult for Neymar to leave; the Ligue 1 champions were demanding in excess of €200m for the Brazilian and no deal could be struck.
Barça were reported to have tried a deal using makeweights including Ousmane Dembele and Philippe Coutinho.
However, PSG were more interested in cash and rebuffed all approaches.
Neymar ended up staying in Paris and now it is reported that Barcelona may not even return for him in the January transfer window.
According to Mundo Deportivo, other factors may deter Barça officials from sanctioning another move.
The first cited is the rise to prominence of 16-year-old Ansu Fati, who is now a key part Ernesto Valverde's squad.
Fati plays in the same position as Neymar and it's thought that the youngster's development would be stunted should the 27-year-old return.
The club also believes that their priority in the transfer window should be replacing Luis Suarez, according to the report.
The Uruguayan turns 33 in January and is showing signs of decline, with his performances under scrutiny in the Spanish press.
Neymar doesn't occupy the No.9 role and therefore isn't seen as a natural replacement for Suarez.
Another, more practical reason that Barcelona may opt not to sign Neymar is because of his injuries.
Neymar has a poor record on the sidelines, and although he started the season strongly for PSG, the forward has picked up another injury on international duty.
The hamstring problem is likely to keep him out of action for four weeks.
Finally, it's reported that Barça's board are wary of the political implications of signing Neymar.
Next summer marks one year until the next elections, and the current board members don't want to be held to account for such an expensive and divisive deal.
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