Palermo insist they will make only one signing in January - Franco Vazquez.

The South American is a gifted 22-year-old midfielder who has been with current club Belgrano since he was a teenager.

An Argentine Under-20 international, Palermo announced his capture in September. He cost the Italian club €4.5m.

"We've already made our signing," stated President Maurizio Zamparini. "We decided to leave Vazquez in Argentina until January.

"We'll do nothing else in the window."