Kewell, is subject to interest from Wanderers and Manchester City, who want to keep the Liverpool midfielder in the Northwest next season.
The Manchester Evening News says Stuart Pearce and Sam Allardyce are keeping tabs on the Aussie star and could swoop if he leaves Liverpool at the end of the season.
Kewell, who is sidelined with a foot injury, has not played a single game for Liverpool this season, and it is understood that Rafael Benitez's patience has run out.
City and Bolton are both believed to favour a pay-as-you-play deal for the 28-year-old.
Meanwhile, former target and Wigan Athletic striker Henri Camara is being rumored for a summer move to the Reebok.
Trotters boss Sam Allardyce is set to offer £3 million for the Senegal international, but may face competition from Blackburn who are also keen.