Bolton Wanderers defender Gary Cahill is fast becoming the hottest transfer property in Europe.

After seeing a move to Arsenal come to nothing over the summer, Cahill is now being linked with Chelsea and Arsenal in England.

However, continental clubs have an advantage on their English rivals as they can secure Cahill to a pre-contract from January 1 before signing him in June on a Bosman transfer.

Barcelona, Real Madrid and Inter Milan are all tracking Cahill leading up to the New Year.