Town are reported to have had a £500,000 bid accepted for Fulham's German full-back Moritz Volz. The former Arsenal player made only 12 appearances for the Cottagers last season.
The 25-year-old moved from Schalke 04 in his home country to the Gunners in 1999 and was in their U18 side which beat the Blues in the semi-final of the 2000/01 FA Youth Cup. Coincidentally, the 5ft 10in tall defender had made his senior debut in Town's 2-1 League Cup victory over the Gunners at Highbury earlier that season.
Volz made only one other appearance for Arsenal from the bench and moved out on loan to Wimbledon and then Fulham, making that switch permanent in January 2004 for a nominal fee.
The German has become a cult figure during his time at Craven Cottage, cycling to matches on a foldaway bike and making fun of German stereotypes on his surreal website www.volzy.com.
Earlier this year he was awarded Professional Players Federation Community Champion Award, the judges describing him as a "shining example of good community workâ€Â.
Volz, primarily a right-back although having played across the back four and in midfield, has made 133 starts and 11 sub appearances and had scored four goals during his five years in West London.
If he were to join the Blues, Volz would be the first German ever to play for Town.