Cahill revealed yesterday his contract had been terminated, only months after he signed a new deal tying him to the club for the upcoming season.
It is believed that none of the Chinese Super League clubs were prepared to pay an asking price of $2.8 million, roughly half of Cahill's wages at Shanghai - but there is interest in the Socceroos legend from Hangzhou Greentown.
Socceroos team mate Matthew Spiranovic is already there, but Cahill will have to accept roughly $1.4 million for a one-year contract there.
Liaoning Whowin, home to James Troisi and Michael Thwaite, were also prepared to make an offer but it is believed they went cold on the idea after Cahill made disparaging comments about the club on Fox Sports during his recent visit to Australia.
"You won't see me going to Liaoning," he said of the club situated in a northern province near the North Korea border.
"You see Troisi and players like that, I don't think they really look at what they're doing before they sign.
"I didn't go there blind. I live in Shanghai, it's a big city, some of the other areas it's a bit tough and we'll see how long they last."
The irony is that Cahill now won't have a choice but to go to one of China's smaller clubs if he stays in the country.
With the CSL transfer window closing on 26 February, time is running out for Cahill’s representative Ante Alilovic to do a deal. Alilovic is currently in the Korea Republic exploring options there, however Cahill would be unlikely to net more than $700,000 for a season in the K-League.
Sources close to Shanghai Shenhua coach Gregorio Manzano have revealed the Spaniard made up his mind on releasing Cahill after coming to the conclusion during a training camp in Spain that he no longer fitted into his system.
There have also been suggestions from within the Shanghai camp that Cahill’s promotional and business activities off the field were seen as detracting from his on-field responsibilities, at least in the mind of Manzano.
Cahill, who scored 11 goals in 28 appearances for Shanghai last season, is believed to have settled on a pay out of around $1.4 million on the final year of his recently renewed $2.8 million deal.
