The Netherlands international was widely expected to link up with Ronald Koeman at Camp Nou when his Liverpool contract officially expires on June 30.
However, Wijnaldum is now believed to be on the verge of signing for Paris Saint-Germain after the French giants offered him a far bigger wage salary.
Marca claims that Barca are already on the lookout for alternative options, though their perilous financial situation means that options are somewhat limited.
Mikel Merino and Fabian Ruiz have been touted as possible candidates to come into the side, but they are valued highly by Real Sociedad and Napoli respectively.
Instead, it is suggested that the Catalans may look to give academy graduates Ilaix Moriba and Nico Gonzalez more playing time in the first team from next season.
Eric Garcia and Sergio Aguero have joined Barca on free transfers this summer, while Memphis Depay is expected to complete a move in the coming weeks.