The 23-year-old midfielder has only featured 17 times for the Saints since making his Premier League debut in 2013 and is currently on loan at Championship outfit Norwich.
The former England youth international has been a regular feature for the Canaries throughout the campaign and that appears to have whetted his appetite for first-team football, as he has confirmed he will only remain a Southampton player if he is given opportunities next season.
“I don’t feel like I want to go back to sitting in the stands, training all week and then on a Saturday not being involved,” Reed told the Eastern Daily Press. “That’s not something I want to do and I think if you asked many footballers, they would agree.
“So next season I’ll look to progress again, whether that be here or we’ll see what other opportunities arise. Definitely it’s opened my eyes. Being at Southampton and a Premier League club is great.
‘Since coming to Norwich and playing week in, week out, getting the game time I have done has really opened my eyes and I feel like I’ve progressed.”
Reed has made 28 appearances for Norwich in the Championship to date this season, 19 more outings than he managed in his most prolific campaign with Southampton.
Preston are reportedly weighing up whether or not to make a fourth offer for Peterborough United left-back Andrew Hughes.
James Maddison has completed his move from Norwich City to Leicester City for an undisclosed fee.