The Algerian would be a sensational signing for Sunderland.
This January at Sunderland has been just as much about getting rid of certain players as it has bringing them in.
Costel Pantilimon has headed to Watford whilst the likes of Danny Graham, Will Buckley and Liam Bridcutt have all been loaned out to the Football League with Charis Mavrias also heading out, to Germany with Fortuna Dusseldorf.
One player who has joined them out the exit door is Uruguayan international Sebastian Coates.
He has left the club today, joining Sporting Lisbon.
One Sky Sports pundit has now suggested that the choice of destination might open up avenues of recruitment for Sam Allardyce.
"I think Sam's been watching these games and gone 'we can't keep conceding goals like this' and he's gone with two centre-halves, Kirchoff and Kone.
"I just wonder whether, Coates going to Sporting, it is a little bit of let them have him and get the boy Slimani. The Algerian striker has done really well there and there's a lot of people courting him.
"Clearly he wants to add someone to the front-line. I think Sam knows it is a very important area and goals will keep them up."
The 27-year-old has been on the radar of many clubs in recent years after impressing in Portugal and with the Algerian national team.
Big Sam is looking for a new striker to help fire Sunderland to safety and Slimani would certainly bring goals.
He has 20 goals in 41 caps for Algeria and has netted 21 times in 23 games for Sporting Lisbon this season.
However, whilst Dowie is optimistic about such a deal, it would be an odd one.
Slimani, who has scored eight goals in his last five games, is on course to guide Sporting to a first league title in 14 years.
A relegation scrap in England may not appeal.