Soccer:Arsenal manager Arsene Wenger is on collision course with Bolton chairman Phil Gartside over the proposed signing of Gary Cahill after the London club tabled an offer for the England defender which they have described as "derisory".

The offer has been reported as €6.8 million, but Wenger this afternoon insisted that figure was incorrect.

“That number is wrong,” said Wenger. “It is completely wrong. I believe every negotiation is between two parties and you only have to sell the player if you are all right with the price. In this case the information is below what has been spoken about.”

Bolton manager Owen Coyle has blasted the offer, saying “derisory doesn’t even cover it” while Gartside re-tweeted a message sent by a Bolton fan angered by the offer.

Wenger, however, was furious at Bolton’s reaction. He said: “You only have to sell the player if you are all right with the price. It is not true. You can believe Gartside or you can believe me. It’s not right. It’s not the truth.

“If Gartside can say I am lying I am ready to confront him. The truth is that we never speak about our negotiations.

“If a club doesn’t want to sell a player it can keep him. When we sign a player we come out here and tell you and keep the price a secret.

“They do not need to sell the player, they can keep him. If you ask do I want to buy your house and you are not happy with the price you say no, that’s it.

“Why should you feel insulted? I don’t understand. If the player is not for sale they can keep him. I don’t understand the problem.

“If we want to buy the player we buy the player. I do not have to explain for how much.”

Coyle earlier confirmed the bid but said the two clubs are a distance apart in terms of their valuation of Cahill.

“There was a conversation between (Bolton chairman) Phil Gartside and a representative of Arsenal. I’m only passing this on as a third party, but the word derisory doesn’t even cover it.

“When I make an offer for a player, I’d like to think in the right ball park, but this wasn’t even close. I spoke to Gary Cahill about it before the Macclesfield game, and he knows everything that’s going on.”

Cahill began his career with Aston Villa and had loan spells at Burnley and Sheffield United. He has made three appearances for England, gaining his first start in a friendly against Ghana last March which ended 1-1.