Sam Allardyce has revealed he tried to arrange a swap deal involving Tal Ben Haim and Nigel Reo-Coker.
West Ham have been one of a host of clubs to show a keen interest in Bolton's Israeli defender, who is out of contract in the summer.
As part of any deal, Allardyce had hoped to take the unsettled Reo-Coker to The Reebok Stadium.
However, the Bolton boss has now conceded defeat in his hopes of a swap deal between the two clubs.
"There was always a possibility," Allardyce told the Bolton News. "But it was never going to happen.
"It's got to be over two weeks ago now, after Alan (Curbishley) took over, and it's never been rekindled since."
Chelsea moved for Ben Haim in the week and Allardyce believes Stamford Bridge will be the stopper's next destination, most likely on a free in the summer.
"Of course, all those clubs who liked Tal, once they knew Chelsea were in for him could forget about him, because he wasn't going anywhere else," Allardyce added.