Roque Santa Cruz is poised to join Manchester City in an £18million deal from Blackburn Rovers.
The Paraguay international striker has long been mentioned as a potential signing for City and his move from Ewood Park now seems likely to be completed in the coming days.
The two clubs are believed to have reached the £18million agreement over the weekend to reinvigorate a transfer which had stalled during the January transfer window.
The 27-year-old frontman will be reunited with former Rovers and now City boss Mark Hughes should he finally make the move to Eastlands.
Meanwhile, Hull City boss Phil Brown has confirmed his interest in signing Michael Owen.
Owen has endured an injury-plagued four-year spell with Newcastle United, but Brown believes the soon to be out-of-contract striker could resurrect his career at the KC Stadium.
Elsewhere, a member of a ruling family in the United Arab Emirates has purchased a majority stake in an unnamed Premier League club, according to reports.
The Middle Eastern-based WAM news agency claims that Sheikh Ahmed bin Saqr al-Qassimi has bought a 60 per cent stake in the mystery club and that the details of the transaction will be made public in the coming days.
In rugby union, tour newcomers John Hayes and Tim Payne have been handed immediate starts after being named in the British & Irish Lions side to face the Emerging Springboks on Tuesday.
Ireland prop Hayes was called up by head coach Ian McGeechan after an ankle injury forced Euan Murray out of the tour to South Africa last week.
Meanwhile, Wasps and England loose-head Payne was drafted into the touring party in recent days as Andrew Sheridan is struggling with a sore back.
The sportsbook favourite Lions will be captained by fly-half Ronan O'Gara in what will be the final non-competitive game on the ten-match tour.
Finally, the Formula One Teams' Association (FOTA) has dismissed a claim from Max Mosley that a compromise agreement over the future of Formula One is 'close'.
Speaking immediately after Sunday's British Grand Prix, FIA boss Mosley was optimistic that a deal to prevent an eight-team breakaway series from forming was imminent.
A more conciliatory Mosley even appeared to have backtracked from his previous warning of legal action against the likes of Ferrari, McLaren, Renault, Toyota, BMW Sauber, Brawn GP, Red Bull Racing and Toro Rosso.
However, FOTA representatives have since spoken of their surprise at Mosley's comments.