Birmingham City co-owner David Sullivan is disappointed to have lost out to Bolton in their battle for ex-Aston Villa defender Gary Cahill.
Sullivan said: "The club is extremely disappointed as a lot of hard work and effort was put in to make a further addition to our squad.
"This is a player we chased very hard, but in the end despite matching the best offer that Villa received and then making him the best personal financial offer, Gary decided that saw his future playing career away from the midlands."