I really struggle to see this one happening given our number of overseas players already and CB is likely to be higher priority... which means needing to sell 2 overseas players (assuming CF is foreign) even before you get to a LB. Aurier and Gazza are perhaps two obvious departures - who is the 3rd if we're getting Reguilon?
Foyth could well be the 3rd to go.
As for needing a CB maybe Jose sees Davies as a stop gap CB and Reuilon as the LB.