Cardiff City have emerged as serious contenders to sign Wales forward Harry Wilson with Swansea City set to land Kasey Palmer.
Swansea had been in talks over a deal for Wilson but could not agree a loan package with Liverpool.
They will instead sign Bristol City’s Palmer on loan, with Cardiff hoping they can win the race for Wilson.
Wilson, 23, has attracted interest from a number of Championship clubs ahead of Friday’s 17:00 BST transfer deadline.
The 19-cap international had been close to a permanent move to Burnley earlier this month, but the window for deals between Premier League clubs has now closed.
Swansea looked at one stage like favourites to sign Wilson but financial constraints meant they could not strike a deal with Liverpool.
But they have agreed to take former England Under-21 international midfielder Palmer, 23, on loan from Bristol City having previously tried to sign him last summer.
Wilson, who is keen for game-time ahead of next summer’s Euro 2020 finals, played Premier League football for Bournemouth last season, scoring seven goals as Eddie Howe’s side were relegated from the top flight.
He had a successful loan spell in the Championship with Derby County in 2018-19, scoring 18 goals as the Rams reached the play-offs under Frank Lampard.
Should he join Cardiff, Wilson would link up with Wales striker Kieffer Moore.
Cardiff had been interested in a deal for Barnsley forward Cauley Woodrow, but manager Neil Harris has said permanent deals are unlikely before the deadline because of the financial impact of coronavirus.
The Bluebirds will have to pay a substantial loan fee for Wilson.
Palmer is expected to complete a move to Swansea on Friday, as is Manchester City defender Joel Latibeaudiere.
Tottenham Hotspur are keen to sign Swansea’s Joe Rodon, but the two clubs are still a long way apart over the value of the Wales defender.
Cardiff could also look to sign a right-back on deadline day, with Wolves’ Dion Sanderson a potential target.