The 25-year old former Valladolid player is said to have held talks with Wanderers manager Sam Allardyce over a loan deal but Real Murcia are also in the hunt for the player in a bid to keep him in Spain.
Cesar is a former team mate of current Wanderer Ivan Campo and will be looking to leave his lucrative contract at the Bernabeu for regular first team football which has seen him go out on loan to Benfica and FK Austria in the last couple of years.
The deal for Sunderland's Emerson Thome is being held up due to a severance payment which the player claimed he is owed and the financial package for Milan's Roque Junior seems to be a little bit out of Bolton's range.
Meanwhile Sam Allardyce has asked all Premiership managers to keep him updated with who they are willing to loan out after the Bolton manager claimed he would be interested in exersising the new loan rules which allow Premiership clubs to loan players between one another.