Colchester striker Scott Vernon could be set to join Carlisle in a swap-deal for goalkeeper Ben Williams.
Vernon, 25, has emerged as the player likely to make the switch, if the U's are successful in signing Williams.
Carlisle assistant boss Dennis Booth told BBC Radio Cumbria: "We don't know what the deal could be yet.
"It could be a deal with another player from Colchester or it could be a cash thing. That is something we have to look into."
Manchester-born Vernon began his career at Oldham where he scored 20 times in 43 games for the Latics.
Clubs like Carlisle all try to wheel and deal and get the best deal we can
Carlisle assistant manager Dennis Booth
He went on to play for Blackpool before signing for Colchester in January 2008.
Williams opened talks with Colchester this week and Booth believes the former Manchester United trainee could be on his way out of Brunton Park.
He added: "Things are very much up in the air at the moment in football. Clubs like Carlisle all try to wheel and deal and get the best deal we can. So we are looking at both aspects of that.
"I don't really know what Ben's thoughts are. I believe that he is down there and I would possibly think that it would probably go through.
"So then we have got to get on our bikes a little bit and start looking around, but we are close to sorting things out as well if that situation happens."
Vernon has emerged as Carlisle's likely target in a swap deal as manager Greg Abbott looks to improve his options up front.
Abbott released striker Danny Carlton at the end of last season, while top scorer Danny Graham looks set to join Watford after turning down a new deal.
A return for Michael Bridges, who spent all of last season on-loan from Hull City, now looks unlikely after the player rejected Carlisle's initial offer.
That leaves the Cumbrians with only three recognised forwards with first-team experience on their books in Scott Dobie, Joe Anyinsah and Gary Madine.
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