Nicolas Anelka is set to join Juventus from Shanghai Shenhua on a short-term deal, according to the club's director general Giuseppe Marotta.
The former Chelsea striker is expected to undergo a medical on Monday before joining the Serie A leaders on a five-month deal which coincides with the Chinese off-season.
Marotta told Sky Italia: "Anelka? In July we made some targeted investments, but now we are in an emergency situation in attack, so we moved to fix those issues, even if it is not official yet.
"It can be a good move for the short term, then at the end of the season we'll evaluate what must be done. He is filling a hole. It is a five-month contract with an option for the second season, if things go well.
"Anelka's arrival rules out any other transfers, because in this stage of the transfer window there are no other opportunities.
"He will put himself at the disposal of the squad and it'll be up to (manager) Antonio Conte to decide how to use him. After all, he is not in great physical condition considering he hasn't played for a month."
Juve will become the 10th club of a career which has seen Anelka accumulate estimated transfer fees of almost £85 million (Dh493m), while also scoring 14 goals in 69 caps for France.
Arsenal may dip into the transfer market again before Thursday's deadline after Arsene Wenger admitted his side are short of firepower.
"Quality-wise no, number-wise, we could be a bit short maybe," he said after the match.
"Gervinho is not here at the moment.
"We have Walcott, who can play through the middle and then of course Giroud."
With that in mind, Wenger is expected to attempt to bring in another striker before the end of the January transfer window, although he is not optimistic of completing a deal and denied he had moved for Fiorentina's Stevan Jovetic.
"You do not find them (strikers) in the street, the strikers that can play for us and strengthen our team," he admitted.
"It's difficult in January. In this kind of job it is realism that is important. Realistically I cannot tell you I will sign anyone tomorrow, or Tuesday, as we are not close to doing it."
The Brazil winger, who was in talks over a move to the Pro League last summer, had been widely reported to be about to sign with Schalke as Lyon look to ease their current financial problems.
But Remi Garde, the French side's coach, insisted there was still interest in the player from other clubs and that no deal had been done yet.
"Nothing is definitive about Michel," said Garde. "Talks have greatly improved with a club but a new club showed interest in Friday night."
The Merseyside club are thought to have agreed a £8.5 million fee (Dh49.3m) for the 20-year-old.
Brendan Rodgers, the Liverpool manager, had said on Friday he was still looking to add to his squad with one or two new players before Thursday's transfer deadline.
Rodgers was unwilling to comment on speculation linking the club with Coutinho but it is now understand the club have succeeded with an approach after previous advances were rejected.
Coutinho is now expected to travel to Liverpool early next week for a medical and to complete other formalities.