Bolton face competition for Veloso

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The 22-year-old has struggled to make an impact with the Portuguese club this season and has previously expressed an interest in playing abroad. But although Bolton have entered into talks with Sporting over a transfer, with a reported fee of £12million, other clubs may yet enter the race.

"It is important to notice that Bolton are not alone. Manchester City have already shown interest in him," Veloso's agent Paulo Barbosa told PA Sport.

"Basically, what is happening now is that clubs are expecting to see what other clubs could offer, in order to make their own bid.

"He (Veloso) is not allowed to talk too much now about this subject but he is looking forward to seeing clubs reaching an agreement.

"What may block the negotiations? Well if the bidders do not offer what Sporting Lisbon are looking at, for example.

"Probably, between today (Tuesday) and tomorrow, there might be an outcome on this issue."

If Bolton succeed in signing Veloso he would become the club's record signing, beating the £8million Megson paid Toulouse for Johan Elmander in the summer.