BIRMINGHAM City have admitted for the first time they rejected a £6m offer from Saints for goalkeeper Jack Butland last summer.
The 19-year-old could well have to leave Birmingham in the January transfer window in order to keep the club out of administration.
He is being chased by several teams, most notably Liverpool, who are understood to have already been in talks with the Midlands outfit.
Acting chairman Peter Pannu has admitted the cash-strapped club may not be able to resist the temptation to cash in on their prized asset.
“I can’t say that we are in a very wonderful situation, I would be lying if I said that,” Pannu said.
“This is a very tricky question (player sales). What I can say is that – and I might be blasted for this by the fans – no one is for sale and everyone is available. As at any club.
“Give me a £15m offer for Jack Butland, can I say no?
“I have rejected £6m from Southampton (in the summer) but I rejected it when our finances were OK.
“As the time is ticking, I might not be able to reject it if I get something similar.
“I do have a responsibility to keep the club running.”
Butland is not the only player facing a possible exit, with a handful of other high earners troubling Birmingham’s wage bill, most notably Nikola Zigic’s £50,000-plus a week wages.