Leicester City striker Jermaine Beckford is set to complete his move to Bolton.
The deal has not yet been officially announced, but the 29-year-old has agreed personal terms with the Trotters and underwent a medical yesterday.
Although the fee is undisclosed, the total package is believed to be around £1million, and Beckford has agreed a two-year contract with City's Championship rivals.
The departure of Beckford, who scored 15 goals in 49 appearances for City after joining two years ago in a £3m move from Premier League club Everton, has allowed manager Nigel Pearson to free up his £30,000 a week wages.
City could now be set to strengthen their squad, while still working towards conforming to the new Financial Fair Play regulations.
Bolton boss Dougie Freedman identified Beckford – who he partnered in attack when they were team-mates at Leeds – as his number one striking target at the end of the season, but initial negotiations were unproductive.
However, the two clubs agreed a fee just over a week ago, and Beckford has agreed to take a pay-cut to kick-start his career at the Reebok Stadium.
The Jamaica international fell out of favour under Pearson and spent nearly all of last season on loan at Huddersfield, where he scored nine goals in 22 appearances.