Huddersfield Town are keeping a close eye on events at Ewood Park after Blackburn Rovers signed Sunderland striker Danny Graham on loan until the end of the season.

The burning question is: Does Graham’s arrival allow Town’s Championship rivals to accept any £12m-plus bids for Jordan Rhodes?

If Rhodes moves on, Town get a 20% share of any profit, so they could get a windfall close to £1m.

Graham, 30, is Blackburn’s third transfer-window signing following Elliott Bennett and Simeon Jackson, and is expected go straight into their squad for Saturday’s Championship game at Chartlon.

Sheffield Wednesday are reportedly the latest club looking at Rhodes after Middlesbrough, who are now targeting Fulham’s Ross McCormack.

“It’s been a mad 24 hours. I was training with Sunderland on Tuesday morning and then I came down here last night to get things sorted, so I’m delighted to get it done,” Graham told Blackburn’s official website.

“For me to get out of Sunderland and have a fresh challenge is superb for me, so I’m delighted to get it done. I can’t wait to get going and hopefully we can pull together and move up the table.”

Graham, who started out at Middlesbrough, moved to Carlisle in 2007 after loan spells at Darlington, Derby, Leeds and Blackpool before signing for Watford in 2009.

He equalled Watford’s record for the most goals scored in consecutive games, seven, before being signed by Swansea for £3.5m in 2011.

Sunderland paid a reported £5m for Graham in January 2013 and he has since had loan spells at Hull, Middlesbrough and Wolves.