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Blackburn goalkeeper Paul Robinson is close to completing a move to West Ham after the 33-year-old fell out of favour at Ewood Park.
According to BBC, the two clubs are close to agreeing on a deal that could West Ham's reserve stopper Stephen Henderson move in the opposite direction just six months after he joined the club from Portsmouth.
Robinson, who was a first team regular under Allardyce when he was Blackburn boss between 2008- 2010, is yet to agree personal terms, but is believed to be relishing the opportunity of playing in the Premier League once again.
Should the former England number one make the move to Upton park then he will compete with Jussi Jaaskelainen for a place in Hammers' starting XI.
Along with completing the transfer of local hero Joe Cole this transfer window, West Ham have also signed Wellington Paulista and Marouane Chamakh on loan deals for the remaining part of the season from Cruzeiro and Arsenal respectively.
They also yesterday confirmed the signing of yet another loan deal as the former Middlesborough player Emanuel Pogatetz was unveiled.
The 30-year-old, who has spent most of his career in Germany, told the club's official website: "I feel very good to be here and I am very excited about playing for West Ham.
"I am looking forward to the opportunity to play for the club and help it get good results.
"I will be doing my best to play well and hope I can play a part in the club achieving the targets for this season."