Fabrice Fernandes' switch to The Reebok Stadium from Southampton has collapsed after Bolton chairman Phil Gartside pulled the plug on the deal at the last minute.
Fernandes seemed set to move to the Lancashire outfit after the player successfully passed a medical, but Bolton decided against the move due to financial reasons.
The player's agent Willie McKay revealed his shock at the decision by Bolton to pull out of the deal.
"All I was told was that Phil Gartside pulled the plug on the deal for financial reasons," McKay told skysports.com.
"He is a cheap player for £6,000 a week as he can play on the left or right side of midfield and he has proved himself in The Premiership.
"He is still only 25-years old and I believe he would have been a valuable addition to Bolton."