The agent of Bologna winger Gaston Ramirez says a move to Southampton is now off.

The Premier League new boys had a agreed a £12m fee with the Serie A side but the deal has collapsed because Bologna were demanding bank guarantees for the transfer fee.

Ramirez's agent Oscar Betancourt said: "The deal with Southampton has definitely collapsed. I have spoken to the chairman of the English club and they are now looking at other targets.

"Bologna did not want to close the deal over the question of bank guarantees. The player was very happy with the offer but now there is every chance he will stay at Bologna.

"The chances of going to Tottenham can be discarded because at the moment they are a long way from what Bologna want and Liverpool have never made a concrete offer."