Despite the financial situation, the club remain determined to resist selling Wayne Rooney.
The striker (left) is currently on holiday with his fiancee and has yet to provide Everton with a response to their offer of a new five year contract worth £50,000-a-week.
Everton are interested in Cahill but believe a £2m valuation for a Coca-Cola league player who has just 12 months remaining on his current contract is over the top.
Millwall have rubbished the midfielder's claims he is being forced out, labelling his comments "preposterous".
The 24-year-old Australian issued a statement through his advisers SFX following the collapse of his £2m transfer to Crystal Palace this week insisting he neither requested a move nor wanted to leave the Lions.
But Millwall hit back with a statement of their own, claiming Cahill's version of events "beggars belief".
The statement said: "(Cahill's) agents themselves have spoken to Millwall chairman Theo Paphitis on numerous occasions indicating that their client wanted to leave.
"They also confirmed that they had spoken to two other clubs, namely Everton and Aston Villa, about the possibility of a move for Tim."
Everton's reserves defeated Connah's Quay 3-1 at the Deeside College Stadium last night. The goals came from Laurence Wilson and a brace from James Vaughan.
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