Gaston Ramirez is in termination talks with Southampton.
The Mirror says Ramirez is negotiating to tear up the final 10 months of his £65,000-a-week contract.
Ramirez has not played for the Saints since August 2014 and has been told by manager Ronald Koeman he does not have a future at St Mary's.
The Saints midfielder, 24, has the chance to rejoin Uruguayan side Penarol, where he began his professional career in his home country.