Henrik Pedersen will leave Bolton this summer after his public criticism of manager Sam Allardyce.
The Danish striker, who has been used mostly at left-back in recent seasons, claimed the decision to withdraw his contract offer was "totally disrespectful and shows a lack of class".
Pedersen did not feature in Bolton's win over Sheffield United last weekend and could have played his last game for The Trotters.
Allardyce confirmed he will not have a change of heart, and was disappointed with Pedersen's outburst in the Danish press.
"We withdrew the contract before he made those comments," Allardyce told the Bolton News.
"Those discussions were private.
"You can call me what you want in the privacy of being between four walls, but don't discuss it publicly.
"So I am disappointed, but that's life."
Meanwhile, French press reports Bolton are interested in Paris Saint Germain defender Boukhary Drame.
The 21-year-old has greatly improved this season but with one year remaining on his current contract, has yet to find an agreement on an extension.
Bolton could be ready to step in and tempt the stopper to the Premiership in the summer.