The striker was the subject of a bid from top-flight newcomers Hull City earlier this month that was rejected by Wanderers.

Talks between Bolton and Davies were put on hold during their two-match tour of Greece, but the 31-year-old is now hoping to sort out a deal before the season opener against Stoke City on Saturday.

we stand

He said: "We are in talks and that's where we stand at the moment.

"I'm settled here so it is just down to myself and the club. I'm very positive about it, so hopefully we can get something tied up by the start of the season."

Davies has played more than 200 matches for Wanderers since moving to the Reebok Stadium from Southampton in 2003. The striker rose to prominence with Chesterfield and has also played for Blackburn Rovers.