Swedish midfielder Kim Kallstrom has put pen to paper on his Lyon deal, but there is much more transfer activity expected at the Stade de Gerland.
The 23-year-old Rennes midfielder, has travelled back from World Cup training to sign a four-year deal with the French champions.
But with 31-year-old Juninho a staple for Lyon, Kallstrom may have to settle for a substitute's role at the French champions.
"So we have another player able to play as a left midfielder," boss Gerard Houllier commented. "He is a really good reinforcement."
Lyon team-mate Sidney Govou's links to England, with Manchester City and Fulham reportedly interested, could strengthen Houllier's case for a raid on Manchester United target Franck Ribery.
Liverpool striker Djibril Cisse's future is still no clearer, with the pacey front man having been strongly linked with a return to his homeland.
Cisse would reportedly prefer a move to Marseille, but the draw of UEFA Champions League football at the Stade de Gerland under old boss Houllier could prove too big a draw.
He would come into direct competition with club top scorer Fred though, who scored 14 league goals in his first season in Ligue 1 last term.
Meanwhile, the Spanish press are linking Liverpool with a move for Real Madrid reserve team player Alvaro Mejia, whom Rafa Benitez knows from his time with the capital outfit.