However, Megson still believes he can persuade goalkeeper Jussi Jaaskelainen and defender Ricardo Gardner to sign new contracts with the club.

"Ivan, Stelios and Andranik have all done well for Bolton Wanderers and I'd like to express my gratitude to them," said the Trotters boss.

"It's time for them to move on and I wish them all the best."

Jaaskelainen and Gardner's contracts expire at the end of next month, with Megson adding: "Jussi and Ricardo have both been excellent servants and are still very much part of my future plans for this football club.

"Hopefully, we can get them secured on new deals as soon as possible."