Poker face

Just some brief thoughts on Arsenal's bid for Gary Cahill, reportedly £6m and add-ons. Bolton says 'derisory', Arsène Wenger says 'that's not the right number'.

Remember that all summer long the figure mentioned has been £17m. That's the buyout clause stipulated in Cahill's contract. Internationals at mid-level clubs (no offense, Bolton fans) typically have such clauses. They're not necessarily related to who the buyer is - the so-called "big club" release clause.

Cahill has only one year left of his contract, and Bolton's insistence on getting the £17m has kept anyone from bidding. Until now. The poker game has begun. Wenger today confirmed that negotiations are to continue.

But why the endless speculations around Cahill's future if there indeed has been no bid? That's a no-brainer. His representatives are touting him around to bigger clubs, leaking supposed interest to the media and getting the headlines. All to create interest in him and his next big payday.

Arsenal risk not getting Cahill, of course, if they refuse to up their offer. Wenger emphatically said today that Bolton are free to keep the player if they don't get what they want. Bolton, on the other hand, risk losing Cahill for free in a year. If there isn't any interest in him, they face losing millions if they can't persuade him to sign an extension. Arsenal have recent experience of what that's like.

On the other hand, why should the manager who waited a year for Marouane Chamakh's deal to run out, not wait for Gary Cahill? That's what Bolton ponders, keeping what cards they have close to their chest.