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Stam's current club Lazio are heavily in debt, and may be willing to listen to offers for the 29-year-old Dutch defender.
The player himself has previously said that he would never return to the Premiership, but with his time in Serie A dogged by drug allegations and bans he may be willing to reconsider.
He has only recently returned from a four month ban after testing positive for the banned substance nandrolone.
Whether or not the speculation proves true, there is no doubt that he would prove a welcome addition to the squad which will face the testing prospect of Champions League football next season.