Sam Allardyce is reportedly hopeful of completing the signing of Lacina Traore within the next 48 hours.
The 23-year-old only moved from financially-struggling Russian outfit Anzhi Makhachkala to AS Monaco at the weekend, but it is believed that he will be allowed to leave on loan for the remainder of the season.
The Hammers, who have been without £15m summer signing Andy Carroll this campaign due to injury, are clear favourites to sign Traore, who penned a four-and-a-half-year deal at the Stade Louis II upon arrival.
At a press conference on Tuesday, manager Allardyce revealed that West Ham are "reasonably close without being absolutely certain" of signing the Ivorian forward, according to The Mirror, and are now waiting on a work permit and a completed medical before they can finalise the deal.
Traore scored 18 goals in 39 matches for Anzhi last season.