Hull City have confirmed an interest in Jay Simpson, but must offload players before being in a position to sign the Arsenal youngster.
Skysports.com revealed last week that the Tigers are among a clutch of Championship clubs hoping to sign Simpson before the close of the transfer window.
Crystal Palace, Leeds United and Queens Park Rangers, where he had a loan spell last season, are all keen on a deal for the Gunners striker.
The Tigers' head of football operations Adam Pearson has acknowledged the club are monitoring Simpson's situation amid reports he would cost in the region of £1.2million.
However, with finances tight at the KC Stadium following relegation from the Premier League, Pearson conceded players need to leave before new signings can come in.
"Jay Simpson is a player we have expressed an interest in and that is as far as it has gone," Pearson told the Hull Daily Mail.
"We still have to move players on before we can consider signing anyone, so our situation would need to change.
"All we are is a club that is interested in Simpson and we are monitoring his situation whilst we get on with our other business."