WEST Ham and Saints could do a deal that would see Kyle Walker-Peters and Flynn Downes head in opposite directions.
Walker-Peters is a transfer target for the Premier League rivals and his future remains uncertain with just one year left on his contract.
An exit has been considered possible for the 27 year old despite promotion back to the top flight at the first attempt.
Saints manager Russell Martin and captain Jack Stephens led a 'one more year' chant aimed at Walker-Peters at the St Mary's promotion party.
Meanwhile, Saints have been negotiating with the Hammers over the permanent transfer of loanee Downes - who starred last campaign.
The Telegraph report that West Ham have held talks over signing Walker-Peters in a deal that would see Downes move in the opposite direction.
They add that Walker-Peters, who is twice capped for England, would add competition in the full-back areas for new boss Julen Lopetegui.
The Daily Echo understands any deal is a long way away and the complex nature of a player swap makes completion tricky.
However, there is belief within the club that a deal makes sense with Walker-Peters unlikely to stay at the club long-term.
They want to keep Downes permanently and there is hope that a deal - likely to be structured separately - can be concluded but no guarantees are made.
Walker-Peters has been at St Mary’s for four full seasons, having initially joined on a six-month loan from Tottenham in 2020.
Japanese international Yukinari Sugawara is high on a list of targets at right-back if a deal is completed, although there are several options.
Downes has made 35 appearances for boyhood West Ham and is open to a return to St Mary's after a successful loan spell.
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