WANDERERS faced yet more transfer frustration last night as it appeared they had lost out to Millwall in a race to sign Watford striker Diego Fabbrini on loan.

Neil Lennon had hoped to bring the Italian international on board in an exchange loan for out of favour midfielder Jay Spearing.

But while the club skipper could yet end up at Vicarage Road, Fabbrini was understood to be with the Lions last night putting the final touches to a season-long deal.

Sources close to Fabbrini claimed Wanderers had “over-valued” Spearing in negotiations, forcing Watford to revert to their original plan of sending the 24-year-old former Udinese star to Millwall.

Lennon had been optimistic of getting the deal done when he spoke to the press yesterday morning to preview tomorrow’s game against Sheffield Wednesday.

“It’s far from completed,” he told The Bolton News of the Spearing loan.

“But we’re confident it will get over the line, and that there would be a player coming in.”

Lennon admitted the decision to move Spearing on has been partially motivated by finances, as well as a need to trim down his options in midfield.

But while Fabbrini’s deal looks to have fallen through, Spearing could still end up at Watford after travelling down to Hertfordshire for talks on Wednesday.

“It’s the player’s personal preference,” Lennon confirmed. “They have been very positive in trying to take him down there.

“I haven’t spoken to him yet but will do today (Thursday) to see how he is feeling.”

After drawing a blank in the first fortnight of the transfer window, the outlook also looks bleak for one of Lennon’s long-time targets, Celtic forward Kris Commons.

Parkhead boss Ronny Deila announced yesterday the 31-year-old attacker would remain at Parkhead until the end of the season – hinting that ground had been made in contract talks between the two parties.

“He will stay here for the season,” the Norwegian said. “We want to strengthen the squad and we are thinking about this all the time.

“The players who are here have to want to be here and Kris wants to be here.

“Kris showed last week against Kilmarnock he can be in a Celtic team I coach.”