The latest reports from the rumour mill suggest that Saints along with Leicester City, Brighton & Burnley are interested in signing the player who will leave Liverpool after the final day of the season on Sunday.
Adam Lallana who turned 32 in May made the £25 million move from Saints to Merseyside in 2014 after notching up more than 250 appearances for the club, but after an injury-hit couple of seasons at Liverpool, the England international will leave Jurgen Klopp's side after their final game of the season against Newcastle United on Sunday.
Several clubs are interested including Saints Leicester City, Brighton & Burnley are said to be vying for his signature with the media reporting that Ralph Hasenhüttl believes the Saints academy graduate is the perfect replacement for Pierre-Emile Hojbjerg.
This is strange given that Hojbjerg is a defensive midfielder, whilst Lallana is very much in the attacking and creative mode.
The player is available on a free transfer after six seasons at Anfield culminating in a Premier League winners medal, but the issue for all of the clubs will be the wages he would command.
From a footballing viewpoint Leicester seem to be the front runners given they could offer him European Football, indeed even Champions League should they beat Manchester United on Sunday.
It was now Foxes manager Brendan Rodgers who signed him for Liverpool and that will be a factor, as will be the travelling factor as he would not need to move from his current home in Cheshire.
But if Ralph Hasenhuttl is truly interested in the player and that is far from certain due to the players age, he could also have an advantage in that the ex Saints family all live in the Bournemouth area and he may want to move back South to be near them.
But a move to St Mary's would not be without controversy, although Lallana was voted into the greatest ever Saints team for the Saints exhibition at the SeaCity museum a few years agp, it would certainly split the fan base as to whether they welcome him back.
When he left some supporters were not impressed with the way it happened, with the player seemingly demanding a move and conducting transfer business whilst away with the England squad in the build up to the 2014 World Cup in Brazil.
But it could also be said that for many time has been a healer and if Ralph feels he will improve the squad then although not exactly forgiving and forgetting, they would be willing to let bygones be bygones.
But perhaps the biggest question is where he would fit in, as mentioned he is far from a direct replacement for Pierre Emile Hojbjerg in terms of playing style and we already have a lot of attacking options available.
But on a free transfer he could well be a relatively cheap option even when accounting for wages.