Sheffield Wednesday's transfer-listed defender Richard Wood is expected to leave Hillsborough "within the next 48 hours".
Wood, 24, recently refused a new contract offer to stay at Hillsborough and the Owls are understood to have accepted a bid from a rival Championship club.
Manager Brian Laws said: "I'm expecting something to happen within the next 48 hours. We've had contact from a Championship club and they are currently negotiating with the player's agent and then we'll see from there."
Wood's current contract at Hillsborough expires in the summer but Laws is keen to cash in on one of the club's biggest assets now so he can draft in two new players on loan, with a striker at the top of his list.
Coventry, who had an offer for Owls academy product Wood turned down last summer, are favourites to sign the central defender but Ipswich made enquiries about him earlier this season and could also enter the chase.
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