Cheltenham boss Martin Allen expects winger Ashley Vincent to complete a move to Colchester in the next few days.
Vincent turned down a new contract offer from the Robins and has been expected to depart Whaddon Road due to the club's financial problems.
The 23-year-old claimed last week that MK Dons were leading the race for his services, but it now appears that League One rivals Colchester are in pole position.
"It's no surprise to me that Ashley is moving on," Town boss Martin Allen told the club's official website.
"It looks like he is going to a very progressive club in Colchester United."
Vincent, who is currently working his way back to full fitness from a knee injury, is due to complete a loan move with a view to a permanent deal in the summer.