Pablo Daniel Osvaldo is unwelcome at Southampton and will need to find a new club this summer, so interest from Valencia could prove to be a lifeline.
The Italian international was a club record signing for Southampton from Roma for £12.8m but he never settled in England and tensions off the pitch marred any progress on it.
Things came to a head when Osvaldo head butted teammate Jose Fonte in a vicious training ground assault and was sent out on loan to Juventus for the rest of the season.
Osvaldo's spell with the Bianconeri was unspectacular despite scoring the winner against former side Roma in last weekend's top-of-the-table clash.
While Osvaldo has insisted that he has 'grown up' at Juventus and wants to stay, the Old Lady have other targets and it looks like the Argentine-born 28-year-old has an uncertain future.
Valencia were reportedly keen on bringing Osvaldo in on loan in January but Juventus were the favoured option and that interest hasn't gone away.
The most likely form of a deal remains a loan, which may not satisfy Southampton due to the vast sum they invested in Osvaldo, but it would temporarily solve the problem of what to do with him and stop the Saints having to pay his wages.
Southampton would probably ask for a payment from Valencia for the loan and would see that as a way to recoup a small amount of their losses.