Blackpool signed Republic of Ireland midfielder Andy Reid from Sunderland for an undisclosed fee and also landed Rangers striker James Beattie on loan on Monday.
Reid made just 70 appearances during an unsuccessful spell at Sunderland following his move from Charlton in January 2008 and spent part of this season on loan at Championship club Sheffield United.
"He will be perfect for us," Blackpool manager Ian Holloway told reporters on Monday. "He's gone for 12 million pounds in the past, so I think we've got a brilliant deal for him."
Later on transfer deadline day, Scottish champions Rangers confirmed Beattie, 32, had joined the Seasiders until the end of the season after a frustrating time at Ibrox following his move from Stoke in August.