A number of Sunday tabloids had credited Bolton with an interest in the experienced winger following reports that he was on his way out of Old Trafford, but Allardyce says that an imminent move for the Welshman is just "pure speculation" and was not in a position to comment further.
Giggs has turned down United's offer of a one-year contract extension on top of his current deal which is due to expire in the summer of 2006. Certain members of the Reds board are keen to trim the United wage bill and the 30-year old is said to be one of the top name players to be sacrificed.