The Mirror says Song, on £80,000-a-week at West Ham, is on loan at Upton Park from Barcelona and made a huge impression on the club and it's fans during the first half of the season.
During the second half of the campaign, however, his performances have lacked consistency leading to the Hammers to rethink their plans to sign him permanently.
The Irons are also ready to offload captain Kevin Nolan. The 32-year-old is deemed no longer to match the profile of the kind of player that the club are after beyond this summer.
West Ham are willing to cash in if they receive an offer for him that they deem to be reasonable.