Leicester City are attempting to thrash out a deal to sign Esteban Cambiasso.
City officials are locked in talks with the Argentinian midfielder's representatives over a possible Bosman move to the King Power Stadium after he left Inter Milan.
The Mercury understands City are in the mix to sign the former Real Madrid and Inter Milan central midfielder, but the 33-year-old's situation is also being monitored by other clubs after his 10 trophy-laden years at the San Siro.
Other Premier League clubs and several European clubs, as well as his first club River Plate, have expressed an interest in signing Cambiasso, who has been capped 50 times by Argentina.
Cambiasso is reportedly keen on remaining in Europe and, having never played in England, a move to the Premier League is his preferred option.
To be successful, City will have to make Cambiasso the highest-paid player at the club and, at the very least, on a par with their current highest earners.
Cambiasso would be City's highest-profile signing since Roberto Mancini in 2001.
City boss Nigel Pearson has previously said he would not rule out a marquee signing.
"I am not going to rule out us signing either a marquee player or a player who is going to cost us a lot of money, but it depends on the circumstances and the availability, and whether deals are doable," he said earlier in pre-season.
"Our strategy will always be trying to add the right players at the right time. We will add the right players when the opportunity presents itself."
City, who play Werder Bremen at the King Power Stadium today (3.0) in the final game of pre-season, have already signed Leonardo Ulloa for a club-record fee of £8million, but the signing of Cambiasso would be seen as a major coup.
City have also brought in goalkeeper Ben Hamer, defender Matt Upson and midfielder Marc Albrighton this summer.
