Leicester have agreed a double striker swoop for Steve Howard and Barry Hayles.
The Foxes are keen to make a charge for the play-off places in the second half of the season and chairman Milan Mandaric is ready to back boss Ian Holloway with the money to fund it.
Holloway has now made his first major moves by agreeing deals for the two strikers.
"We need power up front and Steve Howard is the top drawer on this one. I'm hopeful we can conclude something," Mandaric told Radio Leicester.
"We are determined to bring in additional power on the scoring goals side.
"Barry [Hayles] would be one of those people who would help them."
Holloway worked with Hayles at Plymouth and he tired to sign him along with David Norris earlier this month.
Now a deal has been agreed to take the 35-year-old to The Walkers Stadium, but the fee is undisclosed.
Likewise, Derby have accepted a £1.5million offer for Steve Howard - who is deemed surplus to requirements by Rams boss Paul Jewell.
Howard has scored just one Premier League goal this season following Derby's promotion to the top-flight and missed from the penalty spot in the 2-1 defeat by Blackburn on Sunday.