With news coming that the West London club value the teenager at £30 million, this version of the truth might actually have some legs.
The famed Saints academy has produced the likes of Theo Walcott, Alex Oxlade-Chamberlain and the world's most expensive footballer, Gareth Bale. If the hype is anything to go by, Shaw is cut from the same world-class cloth.
Arsenal, Tottenham, Manchester United, Manchester City and Chelsea have all been linked with Shaw, and even Southampton manager Mauricio Pochettino has stated his desire to keep the prized defender. The young Englishman is valued by transfermarkt.co.uk at £9.7 million, but the bidding war surrounding the left-back has pushed the price tag significantly higher.
Traditionally, Southampton are a selling club and we shouldn't expect that to change now; certainly not with the gargantuan sums of money being bounded about.
If this transfer is going to happen, it makes more sense during the summer. Firstly, it would give Chelsea time to sort out what to do with their full-backs. Cesar Azpilicueta is currently playing out of position as a left-back, leaving the only full-back with 100-plus England caps, Ashley Cole, on the bench.
Branislav Ivanovic turns 30 in February, which would signify he's starting the end of his Chelsea career; as such, an overhaul of the Chelsea back line looks to be on the cards.
Chelsea's Ryan Bertrand and Wallace are on loan to Aston Villa and Inter Milan respectively; so the developing full-back cupboard isn't bare for Jose Mourinho, but with Shaw looking to be a defensive rock for the next dozen years, it looks a wise choice to buy him.
With prices always inflated during the winter, it's a better decision to wait until warmer weather when hopefully saner minds prevail.
On the flip side, Southampton would do well to keep Shaw until the end of this campaign to help keep their promoted status. Additionally the summer would give Saints' brass three months to scout the players £30 million could buy them, rather than just two weeks.
Taking all that into account, it would seem a sagacious decision to hold off on this transfer until the summer for each party involved.