Christensen, who managed just eight AFL games this season following back surgery, has expressed his desire to be traded to a Queensland club.
The Lions secured draft pick No.21 after experienced defender Joel Patfull officially joined Greater Western Sydney on Friday.
Balme confirmed the Cats would accept that pick for Christensen with the deal likely to officially be lodged early next week.
The Cats also remain confident of securing 26-year-old key forward Mitch Clark in a three-way deal with Melbourne and Collingwood.
Speedster Travis Varcoe looks set to end up at the Pies with Heritier Lumumba to get his wish to join the Demons.
"We're very confident that Mitch is virtually done, it's just a matter of how it works itself out," Balme told NAB AFL Trade Radio.
"We don't have any problem with the fact that Mitch will be here (at Geelong) next year."
Key defender Tom Lonergan is still considering a three-year offer from the Western Bulldogs.
Balme said the 30-year-old stalwart is yet to reveal his playing intentions for next season.
"(Lonergan) actually hasn't told us that he's definitely interested in going there at this stage," he said.
"The only reason we're considering it is, from his point of view, it's an offer that we can't match.
"I'm pretty hopeful he'll be a Cats player."
Balme also confirmed Taylor Hunt will more than likely find a new club by the end of the trade period.
