Alessandro Del Piero will play for the Delhi Dynamos and will take up an ambassadorial role in the Indian Super League
Leicester have signed Argentina international midfielder Esteban Cambiasso on a one-year contract.
Reports on Monday suggest cash-strapped Blues are open to offers for any of their first-team players, yet that has always been the case, with every member of manager Lee Clark's squad available at the right price but while not being transfer listed.
Thirteen-goal leading scorer Marlon King is the latest player to attract speculation but reports he has been told he can leave Birmingham on a free as they look to offload his services are wide of the mark.
City have received only one formal bid for any of their players since the winter window opened.
Winger Chris Burke was the subject of a £300,000 offer from Nottingham Forest earlier this month which was rejected by the powers that be at St Andrew's.
England goalkeeper Jack Butland has been at the forefront of speculation over his future but no offers have yet been received, despite several enquiries as a host of clubs, including Newcastle and Liverpool, continue to be interested.
Other players heavily linked with a move away from the struggling npower Championship club over the coming 10 days include Nikola Zigic, Curtis Davies and Nathan Redmond.
It remains to be seen what transpires between now and January 31 but is no secret financially-stricken City are in need of funds as they look to stave off the possible future threat of administration.