Saints boss Mauricio Pellegrino will surely be looking to bolster his ranks at St Mary's this month, with his side currently looking nervously over their shoulders at the relegation zone.
Southampton sit in 17th place in the Premier League table, ahead of 18th placed Stoke City on goal difference alone, and an injection of quality will be much needed this month, if they are to avoid the drop.
One of the south coast outfit's key targets is Gunners ace Theo Walcott, with the Sun reporting that they will have to pay around £30 million to prise him away from the Emirates.
The Saints would be mad to shell out such an extortionate amount of money, however, for a player so desperately short of both form and confidence.
Walcott has played just 50 minutes of Premier League football for Arsenal this season, and has unsurprisingly failed to register either a goal or an assist in the league thus far.
The England international's powers are quite clearly waning, and although a return to St Mary's would be accompanied with much sentiment, it would most likely be an irresponsible waste of a very large amount of money.
Southampton need to add goals to their squad, and they would be better served in looking elsewhere at a player who is playing more regularly, and actually has some recent goalscoring pedigree.
And as harsh as it may seem, that player is certainly not Theo Walcott.