Bolton manager Gary Megson has confirmed the club have made an enquiry about bringing Kevin Nolan back to the Reebok Stadium.
Wanderers host Liverpool in the Barclays Premier League on Saturday with time running out to recruit new signings before the end of the transfer window, and Nolan is top of their wish list.
The midfielder only left in January with a £4million move to Newcastle, but having since been relegated with the Magpies, Nolan's former employers are eager to offer him top-flight football once again.
The 27-year-old was a popular figure amongst the Bolton faithful and Megson insists he had always wanted to keep hold of the player.
"I didn't particularly want him to go in the first place," Megson said.
"It's just an enquiry, we've asked someone to find out if Newcastle would be interested in loaning Kevin back to the football club and we haven't had a response as yet.
"We'll see, because we were told that Newcastle needed to move one or two players about due to the fact they had been relegated."
Nolan scored his first goal for Newcastle last weekend against Crystal Palace and followed it up with the winning strike in the Magpies' 4-3 victory over Huddersfield in the Carling Cup on Wednesday.
Megson admitted that Nolan had dipped in form since being backed for an England call-up two years ago, but was confident the midfielder was rediscovering his touch and had it in him to return to the highest level.
"I have a lot of time for Kevin and I think he's got some great qualities," Megson said.
"I do believe he took his foot off the gas a little bit for a few years, but I also believe that he can get back to those standards he was showing a few years ago.
"We've missed him, but not just as a player. Kevin wasn't doing what he was well known for, which was getting goals.
"When I first joined the club I think he got five in six but then didn't score again for a long time before he left, and he didn't score for Newcastle in the Premier League.
"But I think he's now just again starting to show what he can do and I think when he's really at it - well, he's a talented lad."
Nolan was club captain at the Reebok Stadium before moving to the north east and Megson paid tribute to his leadership qualities.
"He was important to the football club and he's a good lad, he gives it everything he's got.
"In the dressing room he's a great leader. He might upset one or two people, but you're going to do that if you want to get performances."