Bolton have had a £5 million bid for Birmingham striker Cameron Jerome rejected, according to Sky Sports.
Despite relegation from the Premier League, Birmingham are keen to hang on to most of their players. However, the club are rumoured to be willing to cash in on start striker Cameron Jerome for the right price with the club hoping to hold out for £8 million for the player.
Jerome, 24, was signed by Birmingham for £3 million from Swansea in 2006. He has since played in 180 league games scoring 37 goals on the way.
The former England Under-21 striker only scored goals for the club last season but interest remains high with Stoke having previously moved for the 6ft 1in forward.
Bolton have lost Johan Elmander to Galatasaray whilst Daniel Sturride has returned to Chelsea. Sturridge is keen to fight for his place at Stamford Bridge but could return to The Reebok on loan.
Sebastian Larsson, Lee Bowyer and Kevin Philips have already left St. Andrews whilst centre backs Roger Johnson and Scott Dann have been linked with moves to Premiership clubs. Manager Alex McLeish is keen to hold on to most of his squad and hopes for a quick-fire return to the Premier League. But, with the financial reality of relegation hitting home, The Blues could be forced to sell certain players.