Bolton boss Owen Coyle has reiterated his desire to keep hold of Kevin Davies - but admits the situation ultimately depends on the Wanderers striker himself.
After it emerged at the weekend that Sunderland manager Martin O'Neill had made an enquiry about Davies, the Northern Irishman on Monday revealed that he has followed it up with a bid which has been rejected.
Coyle conceded the 34-year-old - who is out of contract in the summer and has lost his place in the Wanderers first XI this season - could go if he indicates that he wants to leave, but said: "It (a bid) won't change my outlook."
Coyle, talking at a press conference on Monday ahead of Wednesday's Barclays Premier League home clash with Arsenal, added: "I want Kevin Davies here, regardless of what offer is made.
"The only thing that would change that circumstance is if Kevin Davies said to me: "Gaffer, I think I want to look at that' - then that is different, because I have to understand Kevin's feelings on that.
"But he is our captain, he has been a huge part of Bolton Wanderers and he will continue to be.
"Of course, he is frustrated at not being in the starting line-up, because he has always been used to playing.
"He will be the first to tell you that, along with the rest of the group, his form has slightly dipped.
"But I saw enough on Saturday (when Davies came on as a substitute in the 2-1 FA Cup fourth-round win over Swansea) to see that he is up for the fight.
"He was terrific when he came on and showed how much the club means to him. I don't want him going anywhere and he knows that - I told him day after day last week, so he knows my feelings on it."