The City manager is excited about the potential of the Ecuadorian and believes his versatility will also come in useful.
"Felipe now has a visa and will train today and we will see what condition he is in physically," Eriksson told the Manchester Evening News.
"He has been playing only friendly games for Basel after they completed their winter break so he may not be quite up to speed yet.
"I will not rule him in or out at this stage.
"What I will say is that when he is fit he will give us extra options going forward because he can play as a central striker or down the left and I am sure he could also play wide right if we need him to."