The report claims the Hammers would only consider substantial permanent offers for the defender, with a loan move off the cards.
However, with the form of Craig Dawson and the continued impressive performances of Angelo Ogbonna, the Paraguay international has found himself on the periphery of late.
With speculation rife around the future of both Issa Diop and Winston Reid and whether they will remain with the Hammers beyond deadline day, Balbuena could be a surprise departure from the London Stadium.
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Balbuena made a promising start to the campaign and it seemed as though the experienced Iron would be the first-choice partner to Ogbonna this term.
Although it seems as if his impression wasn’t a lasting one as Dawson comfortably usurped the Paraguay star in the pecking order.
With five senior centre-backs in the squad, there is definitely scope to allow one to leave this month, especially if it allowed an incoming elsewhere.