Bolton Wanderers have finally given up their audacious chase to bring Brazil's Rivaldo to the premier league.

"I think that as far as we are concerned the Rivaldo situation is finished," chairman Phil Gartside told Bolton's website on Thursday, adding it was clear the player was pursuing "the money aspect" while seeking a new club.

Bolton manager Sam Allardyce, who has proved a master at tempting notable internationals to the unfashionable north west of England club, held talks with Rivaldo in April before the clubless 2002 World Cup winner returned home to mull over a move.

Bolton, eighth in the premier league last season and League Cup finalists, fluctuated between pessimism and optimism as they waited to hear from the former AC Milan and Barcelona forward.

Allardyce said early last month that any deal was "dead in the water" but the club later said they had received a fax saying Rivaldo "wants to come to us".

The career of the 32-year-old former World Player of the Year has been in limbo since he was released by AC Milan in December.

He joined Brazil's Cruzeiro soon after but walked out after less than two months. He has been linked with a move to Scottish champions Celtic as well as clubs in the Middle East.

"He indicated by talking to people in Qatar that he's looking at the money aspect rather than the pure football aspect," Gartside added.

"At that stage our interest dropped. We were told that wasn't what he was about but that he wanted to resume his international career by playing in the premier league but that doesn't appear to be his main focus."