Andre Villas Boas’ men have lost their last three league fixtures, including defeats at home to Arsenal and Liverpool, and now find themselves 12 points behind current Premier League leaders Manchester City.
The Portuguese coach has stated that his side are still in the race for the title but must know that his team cannot afford to drop further points and risk the gap at the top widening.
Cahill is currently in the last year of his contract at the Reebok Stadium, and has not yet indicated whether his future lies with Owen Coyle’s men or elsewhere.
The England defender is a free agent come the summer, and although the struggling club will be keen to hold on to their star player, may feel a January sale would be preferable to losing him with no monetary reward.
Both The Telegraph and Mirror Football indicate that Chelsea are ready to offer a cut-price £7 million for the centre half, as they look to shore up their leaking backline.
Tottenham and Arsenal both tried to sign Cahill during the summer window, and will watch as event unfold in the new year.
By Gareth McKnight