The Premier League new boys are moving ever closer to the huge coup, with manager Nigel Adkins revealing that "all being well" the Bologna winger will become a Saints player
The Uruguayan has been the subject of an ongoing saga throughout the summer, with the winger firstly linked with a move to Liverpool or Tottenham.
However, after any agreement seemed to be dead, the south coast outfit emerged as favourites to sign the 21-year-old in what would be a massive coup for the newly-promoted side.
Adkins told reporters: "We are very, very close. All being well, he will become our player."
The Saints boss had been coy on the potential move last week, but reports in Italy suggested the highly-rated player had stated that he would not play for the Italian club again, after Bologna were blocking the transfer.
With the fee for Ramirez thought to be at around £12 million, any move would break the club's transfer record set earlier in the summer when the Premier League outfit signed Jay Rodriguez from Burnley for £7m.
The move would add to a fairly busy for last season's Championship runners-up, who have already completed a number of signings including Japanese centre-back Maya Yoshida, former Rangers' midfielder Steven Davis and ex-Crystal Palace full-back Nathaniel Clyne.