The Uruguayan will not be joining Swansea or Middlesbrough it seems.
Tutto Mercato Web says he will be meeting with former club Bologna to discuss a deal that might see him return to Serie A this month after rejecting moves to Swansea and Middlesbrough.
The Uruguayan international has failed to make an impact at Southampton since joining the club in an eye-catching move back in 2012.
It was looking likely that Middlesbrough had won the race for the player,as reported by The Mirror on Friday night, only for the deal to collapse.
Ramirez has featured just five times for Southampton this season and has not scored for the club since December 2013 since making a big money move from Bologna.
However he was a star in Italian football and has 34 caps for the Uruguayan national team - so there is definitely a player in there somewhere.
But it looks increasingly likely that his talents will never be fully appreciated in the UK as Bologna look set to beat Middlesbrough and Swansea to his signature.