Jussi Jaaskelainen's agent Peter Harrison has claimed his client would jump at the chance to leave Bolton for Newcastle.
Trotters boss Sammy Lee is still hopeful something can be sorted out but unsurprisingly his agent is talking up a move away and says his client would like to re-join Sam Allardyce.
"Bolton have withdrawn their offer and there are no further talks planned," Harrison confirmed.
"Jussi would be interested in joining a club like Newcastle, especially as Sam was his best manager at Bolton."