Blackpool have signed midfielder Andy Reid from Barclays Premier League rivals Sunderland for an undisclosed fee.
The 28-year-old Republic of Ireland international has made 70 appearances for the Black Cats since his £4million switch from Charlton in January 2008.
However, he became surplus to requirements under Steve Bruce and followed Paulo da Silva and David Healy out of the Stadium of Light.
Blackpool are also in talks with Zenet St Petersburg striker Sergei Kornilenko.
Holloway is also closing on Kornilenko, who is a Belarus international currently plying his trade in Russia.
The 27-year-old is on the books of Zenit, but has also turned out for Dinamo Minsk, Dynamo Kiev and Rubin Kazan.
It is understood that Kornilenko is in England for talks regarding a move to Bloomfield Road, with a medical and personal terms hoping to be pushed through before the window slams shut at 11pm.
Beattie close to Blackpool move.
Rangers striker James Beattie is undergoing a medical at Blackpool hoping to secure a loan move until the end of the season.The 32-year-old, who has played for England five times, moved to Ibrox from Stoke in August but has made only seven appearances for the Scottish club.
It is a swift return to the Premier League for Beattie who had a 19-month spell at Stoke.
He has also played for Sheffield United, Everton and Blackburn.
Bluebirds extend Almond loan stay
Barrow have extended the loan of Blackpool's Louis Almond until April.The 19-year-old striker has scored four goals in six starts for the Bluebirds following his move to the Blue Square Bet Premier side in January.
Blackpool have the option of recalling the Blackburn-born forward at any time during the loan.
Almond has previously had a loan spell at Cheltenham Town and has made one first-team substitute appearance for his parent club.