Boufal, now inside the final year of his Saints deal, is fielding enquiries from France and Spain.
And Foot Mercato says Southampton are prepared to sell for a set price of €4m.
Leading the race for Boufal is Real Betis, where former Manchester City manager Manuel Pellegrini has just taken charge. A move to Betis would mean a return to the LaLiga for Boufal after he spent the previous season on-loan at Celta Vigo.
Last term, the attacker managed 25 appearances for Saints.