Ivan Campo is understood to have turned down a move back to his native Spain.
Athletic Bilbao had made a move for the Bolton midfielder and were keen to secure his signature this month.
Bolton did not want to lose the Spaniard but it is thought that an offer of over £2million would have secured Campo - who has 18 months left on his contract.
However, according to Spanish sources, the decision was left to Campo and now his agent has confirmed his intention to remain at The Reebok.
"Ivan is very happy at Bolton," said Miguel Angel Cermeno.
"He has no intention of leaving the club.
"He is really happy with the team and wants to complete his contract.
"I have transmitted this information to the coach (Sam Allardyce)."
campo and speed are still valueable members to the squad