The 28-year-old has just one year left on his deal with the Black Cars and boss Paolo Di Canio is reportedly ready to cash in on the Sweden international.
Di Canio’s former club Lazio are reportedly ready to offer Larsson an escape route from the Stadium of Light as they look to add more bodies to the squad ahead of the new season.
The fact the experienced midfielder can be used on either wing as well as in the centre of the park makes him even more appealing to the Biancocelesti.
Sebastian Larrson has spent his entire professional career in England, playing for Arsenal, Birmingham City and Sunderland.
He has made a total of 70 Premier League appearances for the Black Cats, scoring 8 goals in the process. Larsson has also started all six 2014 World Cup qualifiers for Sweden.