Blackburn are set to make a move for former Real Madrid legend Raul, according to Goal.com.
The 34-year-old left Madrid last summer for German side Schalke 04, where he signed a two-year contract. Although it's understood he'd be willing to make a move to the Barclays Premier League.
Blackburn have been quiet in the transfer market so far, and the club's owners Venky's are understood to have come into financial difficulties after their bank requested a return on overdraft payments.
However, Blackburn are thought to be interested in making one or two substantial signings. The club were rumoured to be working on offers for David Beckham and Ronaldinho in January, but could now move for Raul who scored 19 goals in 51 appearances for Schalke last season.
Whether he would be keen on a move to Lancashire is uncertain. However, former Real teammate Michel Salgado will be doing everything he can to convince Spain's former all-time leading scorer to move to Ewood Park.
Mariano Pavone, meanwhile, is rumoured to be exploring his options after agreeing a three-year contract with Blackburn, but the club have yet to finalise the deal.
It's understood that Liverpool, Fulham, and Swansea have all been put on alert and are ready to jump at Blackburn's failure to secure the 29-year-old Argentine.
Pavone's British representative Barry McIntosh has said that Pavone will look to give Blackburn the chance to complete the signing, but much further stalling will result in Pavone exploring other Barclays Premier League options.
"The Blackburn situation is frustrating for Mariano, but as they made the move first we are willing to give them every chance to finalise the move," McIntosh said.
"But we have to consider Mariano's future and we are aware of the interest from elsewhere."