Chelsea agree fee with Bolton for defender Gary Cahill
Bolton manager Owen Coyle says the club have agreed a fee with Chelsea for defender Gary Cahill.
Chelsea are short of cover in central defence, with Alex out in the cold after handing in a transfer request.
Coyle said: "We have given Gary's representatives permission to speak to Chelsea."
The deal is thought to be worth £7m and Andre Villas-Boas is confident a deal can be struck, despite saying they are "miles apart" over personal terms.
The 26-year-old is out of contract with Bolton at the end of the season and BBC Sport understands Wanderers intend to reinvest all of the the funds from his sale in new players.
"We're still miles apart regarding agreement with the player," Chelsea boss Villas-Boas said. "We'll continue to monitor this situation as we continue to monitor others."
Villas-Boas did, however, confirm his admiration for the England international.
"I think his technical attributes are immense and his pace is fantastic as well," he added.
"There are weaknesses and they are also related to the collective weaknesses of Bolton.
"He's a player that at international level has been playing well. He can add to this squad or any squad in the Premier League."
Villas-Boas revealed midfielder Josh McEachran would not be joining Bolton on loan but could move to another club.
Cahill, who joined Bolton in a £5m move from Aston Villa in January 2008, made his England debut against Ghana in March 2011 and scored his first international goal in the 3-0 victory over Bulgaria in September.
If Cahill is to leave Wanderers in the next few days, Coyle will view it as a blessing that the move is occurring early in the January transfer window, giving him a chance to reinvest the money in new players.
The Trotters are currently 19th in the table and, with Cahill departing, it would seem imperative that a squad that has been blighted by injuries is strengthened if they are to avoid relegation.
Bolton have been linked with New York Red Bulls defender Tim Ream, who recently trained with the club, although Coyle will not be drawn on targets.
"There are a number of players out there who are of varying degrees of interest to us, and that is where we are," Coyle said.
"There are some good players and I think it is fair to say that we do want to add one or two to the group, but those are players who belong to other teams and I have always tried to be very respectful of that."