Wanderers chairman Phil Gartside made his move for Freedman over the weekend and, following an initial rejection, npower Championship counterparts Palace granted permission for discussions to take place.
But those have not been concluded, according to Trotters caretaker coach Jimmy Phillips, who spoke to the press following Tuesday night's 2-2 draw at Wolves with his club yet to make an official response to Palace's earlier statement.
Phillips said: "As far we are aware, the future is there are still negotiations to be concluded between Bolton and Crystal Palace.
"Myself, (and coaches) Sammy Lee and Julian Darby will be preparing the team and then taking the team at Middlesbrough. That is as much as I know. Obviously things could change between now and the Middlesbrough game but that is what I was told."