Luca Connell has had a request to terminate his Bolton contract turned down by the club’s administrators, Sky Sports News understands.
The 18-year-old visited Celtic's training ground on Thursday and is believed to be considering his options.
Some Bolton players have been able to walk away from their contracts due to the financial situation at the club, with wages regularly paid late last season.
However, Connell is on a scholarship deal, so it is unclear whether that option is open to him.
It is believed Bolton would be entitled to a development fee of around £250,000 if Connell was to terminate his contract.
Celtic are not the only club interested in Connell, who can play in midfield and defence, with clubs in England also understood to be tracking him.
Connell made 12 appearances for Bolton last season and, although he was unable to help them avoid relegation to League One, he did earn a call up to the Republic of Ireland squad.
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