Scunthorpe manager Brian Laws hopes to extend striker Karl Hawley's contract until the end of the season this week.
Hawley, 30, signed a short-term deal with the Iron in early September following his release by Notts County at the end of last season which is scheduled to expire after Saturday's home league game with Shrewsbury.
"We've agreed everything in principle so we're hoping to tie it all up before the weekend's out," Laws told the club's official website.
But Laws said any further signings during the January transfer window were dependent on players leaving Glanford Park.
"Until we actually get somebody out of the club, there is nothing we can do," he added.
"We've got to hope that there's a club out there who wants one or two of our players, particularly the fringe ones who aren't getting any games.
"They will be the casualties I'm afraid because we need to move players on so we can create some revenue and bring fresh faces in.
"It's needed, but we'll have to be patient throughout the period as well. It won't happen overnight and until we have someone knocking on our door for our players nothing is going to happen."