Bolton Wanderers have turned down a £5m bid from Swansea City for Mark Davies, according to reports.
The 24-year-old has been linked with a move to the Liberty Stadium following the Trotters' relegation to the Championship last season.
Norwich City are also rumoured to be interested in the midfielder, but it is the Swans who have made the first move, according to Sky Sports News.
Davies, an England Under-19s international, joined Bolton from Wolverhampton Wanderers in 2009.