Coyle has built a solid side on a limited budget

Bolton manager Owen Coyle has insisted he is not under pressure to sell defender Gary Cahill and striker Johan Elmander in January.

The club this week announced record losses of £35.4m for the year to 30 June, leading to a total debt of £93m.

But Coyle said: "If and when the right offer comes in for anybody you would have to look at it.

"But I do not feel under any more pressure today than I was two days ago to sell any players."

Cahill, who made his England debut against Bulgaria in September, has attracted the interest of a number of clubs but insisted on Thursday that he was concentrating on staying at Bolton while in-form Swedish international striker Elmander is out of contract in the summer.

Since chairman Phil Gartside revealed the extent of the club's financial situation earlier this week there has been speculation that Coyle will be forced to sell his prized assets, but the manager insisted that the club had no need to panic.

"If there is time for selling players in terms of an inflated market then it is January when the window opens," he stated.

"From the conversations I have had with the chairman and the owner [Eddie Davies] I am not under any duress to sell players. If that was the case we would have done that back in August.

"These financial results do not appear on your desk on a Monday and you issue them on a Tuesday. It is an on-going process over the course of the year.

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"It did not come as a surprise to the chairman and the owner what the financial situation was going to be.

"Of course I would like Gary and Johan to stay as I am here to try and build a team and take it on."

Bolton have enjoyed an impressive start to the season, losing only two of their opening 12 Premier League matches.

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