Aston Villa striker Rudy Gestede is reportedly wanted by Hull City, while Abel Hernandez could head in the opposite direction to reunite with former boss Steve Bruce.
The Tigers, currently struggling in the bottom three of the Premier League, are said to be after a new attacking player for the New Year following a string of injury issues.
According to The Sun, Gestede is seen as a potential purchase to freshen up City's forward line, with Mike Phelan willing to let Hernandez head in the opposite direction to broker a deal.
Hernandez has scored just one goal in 11 games this term, while Gestede - a £6m signing from Blackburn Rovers last year - has three goals in seven Championship starts.
City will be without summer arrival Will Keane for the remainder of the campaign after the former Manchester United youngster picked up a serious knee injury.