"We have spoken to Bolton but we are nowhere near the deal stage yet," he said.
"There are other clubs in England and Spain who are interested because he is a quality player, so we will just see how the situation materialises."
"It is clearly possible Olivier could return to the Premiership. He already has extensive experience of England and likes how the game is played here."
Sam Allardyce has already seen Dietmar Hamann and Laurent Robert snub offers to join the club this summer and Dacourt, 30, would be a great asset to the club considering his Premiership and European experience.
In other news, Bolton will enter the draw for the Carling Cup in the third round next season.
Due to European commitments Bolton, Chelsea, Manchester Utd, Arsenal, Middlesbrough, Liverpool, Newcastle and Everton will all enter at this stage rather than the second round like the remaining Premiership teams.