Cheltenham Town are believed to be lining up a move for Swindon Town midfielder Luke Rooney.
When questioned on the matter this morning Yates was keen to keep his cards close to his chest as usual, but he did not deny that he is close to capturing the former Gillingham 22-year-old.
Rooney, who has spent time at League Two clubs Burton and Rotherham this season, could become the second player to make the move from the County Ground to Whaddon Road, following the signing of striker Paul Benson on loan for the rest of the season yesterday.
Sam Morshead, chief sports writer for the Swindon Advertiser, said the following about Rooney's ability:
"He is tricky, nifty, fleet-footed and keen to take on his man. Direct. Would be another cracking signing for Cheltenham."
Meanwhile, Yates confirmed another loan arrival - believed to be a central defender - will complete his paperwork tomorrow morning and will be in the squad for Saturday's home match against Torquay United.
Yates has already brought in Luke McCullough on loan from Manchester United for a month and signed midfielder Jason Taylor on a two-and-a-half year deal from Rotherham United.
Darren Carter also signed an extension to his deal to keep him at Cheltenham until the end of the season and with at least two more new faces to come, it is proving to be one of the busiest January transfer windows the club has ever known.