Matthew Hoggard has been offered a three-year contract by Leicestershire.
The former England seamer was released by Yorkshire last week and has since been the subject of interest from several counties.
The Foxes are keen to bring Hoggard to Grace Road and the player met with senior coach Tim Boon and chief executive David Smith on Monday.
Leicestershire struggled in the lower reaches of Division Two of the LV County Championship last season, however, Smith believes they have provided an attractive option for Hoggard.
"We are in the ball park financially," Smith told the Leicester Mercury.
"Matthew likes what we are doing here and he knows Tim well.
"I came away from the meeting feeling that we are in with a shout.
"He hasn't played much one-day cricket recently but he will play that with us.
"I think he needs a new challenge. I think we would say we were hopeful."
Hoggard spent 15 seasons with his home county Yorkshire before he was told his contract would not be renewed.
The 32-year-old was the Tykes' top wicket-taker in the LV County Championship in 2009 with 46 and his hat-trick in the penultimate game against Sussex contributed significantly to the club's survival in Division One.
He took 248 wickets in 67 Tests for England from 2000-2008 and played a key role in the 2005 Ashes victory.