Gary Cahill is largely expected to leave Bolton for a bigger club in the summer and Manchester City have come up with a package to increase their chances of sealing the signature of the defender.
Manchester United, Arsenal and Liverpool have all been tipped to make offers for the England international in the close season as they look to strengthen their squads for the next campaign.
However, with Manchester City now virtually assured Champions League football next season, they have also entered the race and certainly have the finances to table a large bid.
Bolton will want big money for Cahill and it is believed that he is valued between £18m and £22m.
But with Manchester City already having a large squad, the Daily Mail reports that they would be in favour of a player plus cash deal.
Craig Bellamy is one of the names speculated, with Bolton boss Owen Coyle believed to be a keen admirer of the Welsh forward.
The two big problems with such a deal is whether Bellamy would be interested in a move to Bolton and whether the club could meet his wage demands.
Alternatively, if they wanted to directly replace Cahill, then a deal could be agreed for Dedryck Boyata.
The 20-year-old has already made his international debut for Belgium and has performed well when called upon by Manchester City.
However, he has found his first-team opportunities limited behind the likes of Vincent Kompany, Kolo Toure, Joleon Lescott and Jerome Boateng.
Cahill will be in the Bolton team for the remainder of the season, with the first of their final three matches at home to Sunderland.
Bolton are 8/11 in the Premier League odds to beat Sunderland despite losing their last three games against the opposition in the top flight.
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