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Bolton are believed to have tabled an offer in the region of £4million for the England Under 21 international.
Birmingham are also interested in Cahill and held talks with the player about a possible switch to St Andrews.
However, Blues saw their bid for his services also rejected earlier this week.
Bolton boss Gary Megson is keen to bolster his defence and it remains to be seen if he comes back with an improved offer for Cahill.
Cahill has spent the last three months on loan at Sheffield United and Villa are believed to be willing to let him move on for the right price.
Yorke, 36, played a pivotal role as he helped to guide the Black Cats to the Championship title last season, which saw them return to the top flight at the first time of asking.
They invested around £36million during the summer as they headed back to the Premier League determined to prove their worth but now find themselves in the drop zone with 15 games left this season.
Sunderland are only below Wigan and Birmingham on goal difference so the situation is manageable and Yorke is adamant he does not want to be making a swift return to the Championship.
The Americans have reportedly finalised terms on a new £350million loan and are expected to make a formal announcement shortly.
The £350million will be used to repay the money Hicks and Gillett initially borrowed to buy the club last year, as well as purchasing new players like Fernando Torres in the summer.
The remaining £60million will go towards the club’s new stadium at Stanley Park, revised plans for which will be unveiled shortly, according to The Times.
The good news for the club and the fans is that not all of the new debt will be placed on the club, as previously thought.
The Guardian reports that £105million will be saddled on the club, and with £60million of that allocated for new stadium costs, the working capital debt will stand at around £45million.
The remaining debt will be spread between Hicks and Gillett’s holding company ‘Kop Investment’, and the Americans themselves.
Croatian star Luka Modric claims he turned down a move to Arsenal last season.
The Dinamo Zagreb schemer is one of the most sought-after players in Europe after impressing for club and country over the last few years.
Chelsea and Manchester City have both been linked with moves for Modric this month, but the player has opted to stay at Zagreb.
Modric revealed that Arsenal wanted to sign him last summer after raiding Zagreb for Eduardo da Silva.
The 22-year-old says Gunners boss Arsene Wenger targeted Modric as a possible replacement Tomas Rosicky, in case the Czech Republic international left Emirates Stadium.
However, Modric snubbed their overtures as he says he is no rush to leave Zagreb despite attracting interest from a host of top clubs.
“Yes, I was close to moving to Arsenal,” Modric told El Mundo Deportivo.
“Arsene Wenger tried to sign me at the same time that he signed my friend Eduardo, a great striker that I was sure would make it at Arsenal to replace [Thierry] Henry.
The powerful midfielder, who is away on international duty at the Africa Cup of Nations, is keen to leave Anfield during this month’s transfer window as he has dropped down the pecking order in Rafa Benitez’s plans.
Juventus boss Claudio Ranieri is a big fan of Sissoko having worked with him during his time at Valencia and he is keen to be reunited with him in Turin.
Hornets boss Aidy Boothroyd revealed earlier this week a couple of Premier League clubs along with Fulham had expressed an interest in King.
The Latics have made an enquiry for King as talks over the player’s proposed move to Fulham continue to stall.
Wigan assistant manager Eric Black admitted talks were ongoing over a possible move for King.
“We’ve shown an interest and it’s ongoing,” said Black.
“Fulham are obviously interested as well, as are another couple of clubs because he’s obviously done exceptionally well for Watford this season.”
King’s switch to Fulham has been held up due to fears over his fitness and Black concedes they would have to consider the medical implications if they do plan to sign the former Nottingham Forest hit-man.
“You are obviously concerned with something like that,” added Black.
“But if something did happen then we would obviously have to satisfy ourselves that it wasn’t an ongoing problem and wouldn’t be a problem in the future.
“Hopefully if we do get him then he could contribute between now and the end
of the season.”
The England international has struggled to find anything like top form since moving to the capital from Southampton and despite a bright start to the season, he has faded badly ever since.
An anonymous display in Arsenal’s 5-1 thumping at the hands of North London rivals Tottenham on Tuesday fuelled talk that he could be heading for the exit door; a notion that was given credence when in his post-match appraisal Arsene Wenger stated that he now knew who was ready for first team football – and who was not.
Championship promotion hopefuls Stoke confirmed they would make an approach for Walcott on Thursday, while The Times reported on Friday that Liverpool had had an offer of their own spurned.
Scholes is in line to return against Tottenham in the FA Cup this weekend after over three months out with a knee injury.
Ferguson is delighted to welcome Scholes back into the fold and feels he could be the difference as the club look to maintain their pursuit on the Premier League, UEFA Champions League and FA Cup.
The Toffees missed out on a place in next month’s final after going down 1-0 at Goodison Park on Wednesday.
Neville is keen for the players not to let the defeat affect the rest of the season as they look to finish in the top four in the Premier League and progress in the Uefa Cup.
“I said in the dressing room after the game this isn’t the end, this is the beginning,” said Neville.
“The beginning of playing games like this, where the pressure is really on and making sure we enjoy it.
“We’ve still got fourth place to play for and the UEFA Cup, so let’s make it a great end to the season and not wallow in defeat.
Chelsea goalkeeper Petr Cech says the team have their sights on the Quadruple this season.
The Blues are battling on all fronts after booking their place in the Carling Cup final with victory over Everton in midweek.
Cech believes Chelsea are in good shape ahead of the battle for honours and he has warned their rivals they will only get stronger when they get all their missing players back.
The 31-year-old is thought to have been granted permission to discuss terms with Feyenoord after Wigan concurred on a deal with the Dutch club.
Should Landzaat return to his homeland the move will come as somewhat of a shock, given the talented schemer has started 19 Premier League games this season.
Latics boss Steve Bruce is eager to reshape his Wigan squad despite a bright start to his tenure, with a number of exits and arrivals expected before the close of the January transfer window.
If Landzaat does indeed depart then Bruce could find himself in the market for a direct replacement, especially when taking into consideration Jason Koumas has also been linked with a move away from The JJB.
It had been reported that Manchester City were close to bringing the Brazilian international to the Premier League, but this speculation has been dismissed by del Nido.
Fabiano has scored 13 goals in 13 top flight games this season for a Sevilla side which has struggled to reproduce their form of the past two campaigns and it comes as no surprise that his performances have attracted interest from elsewhere.
The club’s president though has suggested that it would take a bid of over £44million to prise the player away from the Sanchez Pizjuan, and has denied suggestions that the club only owns 35 per cent of the player’s transfer rights.
England have arranged a friendly against bitter rivals Germany in Berlin on 19th November.
Fabio Capello’s side will travel to the Olympic Stadium, which hosted the 2006 World Cup final, later this year.
England’s last game away to Germany was the famous 5-1 victory in a World Cup qualifier in Munich in 2001 when Michael Owen scored a hat-trick.
Challenge
Capello said: “This should be a great match. I’m delighted this fixture has been arranged, it should be a real challenge and something the players will look forward to.”
The last meeting between the two sides was at Wembley last August when Germany outplayed Steve McClaren’s England team to record a 2-1 victory.
Capello’s first match in charge is the sell-out home game against Switzerland at Wembley on 6th February.
England then travel to Paris to play another friendly against France on 26th March.
Talks are still taking place on England’s summer fixtures, including a likely match against Scotland at Wembley.
The Scottish Football Association will not block any bid by George Burley to appoint former England captain Terry Butcher as his assistant.
Burley, who was confirmed as Scotland’s new manager at a Hampden Park press conference on Thursday, confirmed he was close to naming his number two.
Butcher, who won 77 caps for England, knows Burley from their days as Ipswich players and reports claim they could be teaming up again as they aim to guide Scotland to the 2010 World Cup.
And SFA chief executive Gordon Smith insists that the nationality of Burley’s backroom staff is immaterial.
Scenario
“We have a scenario where the manager is a full-time appointment but the other appointments are not, they are part-time,” he told talkSPORT.
“If Terry was going to be used a coach on match days or match occasions then it would be on a part-time basis.
“So I don’t have a problem with that.
“George hasn’t said yet who he is going to bring in, there are two people who usually come with him.
“If there was a complaint about George not living much in Scotland then that certainly can’t be levelled at Terry because apart from his stint in Australia and a little time down at Brentford, Terry spends all his time in Scotland.”
Steven Gerrard sees no reason why David Beckham cannot play a role in England’s efforts to qualify for the 2010 World Cup in South Africa.
Former captain Beckham will win his 100th cap next month if he features in Fabio Capello’s first game in charge against Switzerland.
It had been thought the 32-year-old could well be phased out in order for the next generation to shine, but Gerrard believes he still has the passion and ability to play on the international stage.
“It’s a magnificent achievement, 100 caps, but also someone who’s doing really well throughout those caps,” he told Sky Sports News.
“He’s been really loyal and put in some magnificent performances so I think he deserves 100 caps in the next game.
Ability
“I think everyone’s talking about 100 caps for David, but I’m sure he can go on and achieve a lot more. He’s still got the ability to be involved in the setup.
“He’s a very fit lad. He looks after himself really well. He’s still got that passion to play for the country.
“We’ll have to wait and see what the manager’s ideas are – whether he decides he wants David to still be involved but I think he’s still got the ability.”
Gerrard knows all about Capello having come up against his teams in the past and is looking forward to working under the former Milan, Juventus and Real Madrid man with England.
“I’m aware of what he’s all about. He’s very organised and his teams are very difficult to beat. They work very hard and he wants everyone to pull in the right direction to win football matches,” he continued.
“That’s certainly the impression I got from playing against his teams and I’m quite used to that with Rafa as well. I’m looking forward to working with him.”
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