Leicester City cut losses on Matt Mills as defender completes move to Bolton
Leicester City have cut their losses on defender Matt Mills, who has finally completed his move to Bolton.
The 25-year-old defender has joined the Trotters on a three-year contract after finalising the details of his transfer yesterday.
Mills had agreed personal terms and passed his medical, but the move was held up over a financial clause in the deal between the player and City, but a compromise has been reached.
The deal, which should be officially announced today, was believed to have been an initial loan with a view to a permanent transfer, but the Mercury understands it is a permanent switch.
The fee is undisclosed but the Mercury understands it is significantly less than the sum City paid for the central defender last year, when he joined from Reading in a deal which was potentially worth close to £5million, a club record for a defender.
It is possibly even less than the £2m that the deal was originally said to be worth.
The move brings to an end a frustrating year for Mills, who began the season as City captain under Sven-Goran Eriksson but did not feature in Nigel Pearson's first team after the 3-2 defeat at Watford in February.
Mills was not even training with the first team at the end of the campaign.
Lee Peltier also looks set to leave the King Power Stadium in the next 48 hours to join Neil Warnock at Leeds in a deal worth £350,000.
Pearson will now look to bolster his defence, and Hull's James Chester is believed to be a target.
However, new Hull boss Steve Bruce said he had received no contact from Pearson, and added that, while there had been some interest in his players, they had not received any bids.
City are also keen on Hull midfielder Robert Koren, but reports that a £500,000 bid had been submitted last week for the Slovenian appear wide of the mark.
"I've not spoken with Nigel and I would have thought if there's anything at all, he'd call me," said Bruce.
"I've seen it myself, all the speculation in the papers and on the TV, but I've had no contact with Nigel, who's someone I've known for a long time.
"If he's got interest in any of my players, I would think he'd come to me.
"We've had four or five enquiries I'm told, but no bids.
"The one thing I don't want to do is lose my better players."