It is also believed that Eriksson will make a renewed offer for Croatian Nikica Jelavic, having seen an offer of £6.5million rejected by Rangers on Tuesday, but that deal may not get done in time.
What it does show is that Leicester seem to have more cash than thier rivals and the owners seem hell-bent on supporting Eriksson in his bid to return Leicester to the Premier League.
As the football authorities look at managing club finances to ensure they don't overspend, it will be interesting to see how this might level the playing field in January. For now though, there's no doubt the Foxes have more cash to spend than any of their rivals.
Meanwhile Everton, having also offloaded Yakubu (To Blackburn) are hoping to do a last minute loan deal for Dutch star Royston Drenthe.