Rangers have been warned that
Bolton are waiting in the wings for the Sotirios Kyrgiakos deal to collapse.
The Greece international defender moved to Ibrox in January on a six-month loan deal from Panathinaikos.
An option to make the switch permanent had also been established, with an additional £1million on top of the £500,000 Gers had already paid being the asking price.
However, the cash has so far failed to materialise, although the Scottish champions insist it is still their intention despite comments to the contrary from a Greek agent.
The 25-year-old is currently on Confederations Cup duty in Greece and Trotters manager Sam Allardyce, who lost out to Rangers over Dado Prso a year ago, is planning a swoop should negotiations break down once and for all.
Allardyce told the Manchester Evening News: "We have had an eye on the player for quite a while but we've not taken it any further.
"We have been watching what he's been doing with great interest.
"I know nothing about the situation between them and Panathinaikos. But it would be fair to say that Kyrgiakos has interested me for some time."
