Sky Sports News understands Eidur Gudjohnsen has undergone a medical at West Ham United, but Tottenham Hotspur are also keen on the Monaco forward.
Gudjohnsen only moved to Monaco from Barcelona during the summer transfer window, but is being lined up for a January return to the Premier League.
The former Bolton and Chelsea ace has been linked with several clubs, including Blackburn Rovers, who are managed by his former Trotters boss Sam Allardyce.
However, struggling West Ham currently appear to be in pole position to bring the Iceland international back to English football.
The 31-year-old has been put through the first stage of a medical by the Hammers, although he has yet to agree personal terms to secure a switch to Upton Park.
Tottenham have also made contact regarding a deal for Gudjohnsen, but ex-Hammers boss Harry Redknapp expects the forward to join his former club.
"I spoke to his agent, he said he was going to West Ham, so I left it with the agent," Redknapp said after Spurs' 2-0 win over Fulham.
"I would take him on a loan. He would be good loan signing playing in different systems.
"He's a good footballer and an interesting player on a loan, but I think he's gone to West Ham."
West Ham, meanwhile, are closing in on a deal to snap up Benni McCarthy from Blackburn Rovers after agreeing personal terms with the striker.
A fee has already been agreed with Rovers and the South African is due to have a medical on Wednesday ahead of completing a move to Gianfranco Zola's side.