The Cobblers have made a cash offer for a centre-forward and hope to have a response to their bid on Monday morning.
The Chron understands the transfer was proposed by the club late on Friday afternoon, prior to the team’s postponed game at Torquay United.
Caretaker manager Andy King has drawn up a list of players he feels the club needs to recruit to enhance their bid to retain their Football League status.
Weekend results have left Northampton five points adrift of safety in Sky Bet League Two, with a home game against Chesterfield next on the schedule this weekend.
Recruitment is required for a squad that has the lowest goalscoring record in the division, and a striker has been made the primary target during the current transfer window.
It is expected that as many as four new players could be taken to Sixfields in January as the team bid to stave off what would be a disastrous drop into non-league football.
The most recent signing for which the club paid a fee was Paul Turnbull, for whose services Town parted with a five-figure sum in July 2011.
Powerful Charlton Athletic front man Michael Smith has been previously linked with the club.