Cabral, 22, has been attracting considerable interest from the Premier League in recent months.
While Record claims that Southampton are in active talks for Cabral and believe a deal can be done, A BOLA has a different view.
Their information is that the Saints are showing interest in the Cape Verde winger, but have gone no further yet.
Southampton first want to understand what sort of figures would be involved in signing Cabral.
And they have learned that Sporting want a value close to €35m for Cabral.
Sporting would be willing to lower their asking price slightly in return for a sell-on clause.
Cabral missed half of last season with injuries, but showed good form after his return in January.
In 15 Liga NOS appearances from January onwards, Cabral scored six goals and delivered three assists.
Saints enter Luis race
Benfica have had offers from all three clubs of loan deals with the option or obligation to buy.
None of the proposals have satisfied the Lisbon giants, but Southampton are considering their own bid.
Benfica boss Jorge Jesus has a wealth of midfield options and will let Luis go, despite his talent and potential.