Saints are eyeing up ex- Manchester United star Jordi Cruyff as a possible replacement for Hassan Kachloul, who has turned down the offer of a new deal at The Dell.
Cruyff almost joined Southampton on a Bosman free transfer in the summer but opted to go to Spanish side Alaves instead.
Manager Glenn Hoddle has kept tabs on the 26-year-old midfielder but would now have to pay a fee which could prevent any deal going through.
Cruyff is said to have signed a one-year deal with Alaves with a three-year option to renew and a £5 million buy-out clause.
But they may sell more cheaply now rather than risk losing him for nothing in the summer.
Another stumbling block would be that Alaves are still in Europe and wouldn't want him to go now.
Hoddle's right-hand man John Gorman said: "We looked at him in the summer.
"He is under contract now although he is one of many players we are keeping an eye on."
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