Dowie played for the Saints who are hoping that a take over will happen before the start of next season. He is currently with Alan Shearer at Newcastle but is still to hear if he will be offered a permanent job at St James' Park.
Saints Head Coach Mark Wotte has had talks with the Pinnacle Group but neither party have said anything about the meeting and the speculation continues to mount that Southampton will be getting a new manager.
Former Saints boss and City player and manager Gordon Strachan has also been linked.