So Leeds have reached for the oldest trick in the window: the "take it or leave it" offer.
According to Leeds reporter Graham Smyth, relayed on the @SaintsExtra feed, there's no suggestion Southampton have returned to the table to accept it, even with Shea Charles missing from today's behind-closed-doors friendly.
The absence is a red herring
Let's deal with that absence first, because it'll set a few pulses racing. A player sitting out a pre-season run-out in the middle of transfer talk always looks like a clue. More often than not, it's nothing of the sort. Read too much into a missed friendly and you'll drive yourself round the bend every summer.
Here's what actually matters: the price.
Southampton hold firm on their number
Leeds have been here before. They've had bids of around £20m and £23m knocked back already, and Southampton value their 22-year-old closer to £30m. A "take it or leave it" line doesn't change that maths. It just dresses up another offer that falls short.
And why would the Saints budge? They aren't being forced into anything. The club wrapped up its big summer business early when Daniel Peretz signed permanently from Bayern, so there's no financial gun to the head here.
Charles is worth the stubbornness. He arrived from Manchester City in 2023 and quietly turned into one of the steadier defensive midfielders in the division.
A queue is forming
There's a queue forming, too. Crystal Palace have gatecrashed the chase, sensing hesitation from Elland Road, with the carrot of European football to dangle. Fulham are lurking. When three clubs want the same midfielder, the seller sets the terms, not the buyer.
So where does the "take it or leave it" leave us? Probably exactly where we were. Leeds either find another £7m or so, or they walk and someone else meets the number.
The nervy bit for fans is the fear of a cut-price goodbye to the best midfielder at the club, the kind of sale that stings for years. But everything about Southampton's stance says they've learned that lesson.
Remember the backdrop. Southampton start 2026/27 in the Championship on minus four points after the Spygate expulsion, and a fee near £30m would hand them serious money to build a promotion squad. Sell for the right price, and it funds the rebuild. Sell cheap, and you've weakened the spine for a season that already starts with a four-point deficit.
Hold the line. Make them pay.
Verdict: 4/5. At £30m this is smart business; at Leeds's current number it's one to reject without losing sleep.
Likelihood: 2/5. The "take it or leave it" framing sounds final, but nothing suggests Saints are ready to accept, and a third suitor makes a cut-price exit even less likely.
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