Bolton out of Miguel Veloso hunt

Bolton have been forced to withdraw from the race to sign Sporting Lisbon midfielder Miguel Veloso, as Gary Megson confirmed that there is not enough resources to match the Portuguese sides valuaton.

"We were trying to get Veloso done in January, but we're not capable of doing the kind of deal they are talking about," Megson said.

"We're just not in that league."

However, Premiership rivals Manchester City are still interested in the midfielder, and could make a renewed offer of around £17 million for the Portugal international centre midfielder.