With old arguments looking settled and no more director of football above him, Redknapp would have the chance to be a hero and try and reverse the downward spiral that is Pompey of late.
This would mark an incredible turnaround for the man that many Pompey fans dubbed 'Judas' for joining Saints two weeks after quitting Fratton Park. With rumours of unrest behind the scenes at Saints, the situation is eerily reminiscent of his departure from Portsmouth in the first place.
Neither Redknapp or Lowe have made emphatic statements to contradict the rumours, merely denying that an approach had been made when a hands-off comment would have helped to dispell the rumours.
There is still time for another twist in the tale and we should wait for official announcements before accepting the rumours as fact, but the events of the past week suggest that it is a question of when rather than if and Saints face yet more managerial instability.
Update: Mandaric has now confirmed that he will approach Redknapp saying: "We are going to approach Southampton and ask for permission to talk to Harry."