Zach Clough has rejected a move to Bristol City, according to The Bolton News reporter Marc Iles.
The Robins had a bid of around £2m accepted for the young Bolton star, but he has now rejected their advances and decided the move was not right for him.
Bolton are in dire financial straights and are desperate to sell players to try and help balance the books.
Mark Davies looks set to sign for Sheffield Wednesday, whilst Dorian Dervite and Dean Moxey have attracted interest from Wolves.
Clough is still likely to move on in this transfer window, with interest from a whole host of clubs. Interested parties include Birmingham City, Wolves and Middlesbrough.
The news is a hammer blow for Bristol City in their bid to avoid the drop and they also missed out on Andre Gray last summer. The Robins are currently 22nd in the table.
Bolton look destined for relegation already this campaign and are rock bottom of the second tier, with just 17 points from 26 games.