Lincoln are hoping to bring Peterborough midfielder Sergio Torres back to Sincil Bank on a longer-term loan deal.
The 25-year-old returned to London Road on Monday after a successful loan with the Imps, in which he made six appearances and scored one goal during his month-long stay.
Posh chairman of football Barry Fry is happy for the Argentine to return to Lincoln if the financial package suits his club, but City's contribution to the midfielder's wages is thought to be the sticking point in any new deal.
But Imps vice-chairman Bob Dorrian is still hopeful a deal can be done.
He told the Lincolnshire Echo: "We have tabled a bid to bring Sergio back on loan, so the deal is not dead.
"This would be on a longer-term loan and Peterborough are still considering that offer."
But Dorrian insists Lincoln have 'other irons in the fire' should their attempt to re-sign Torres prove unsuccessful.