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The 31-year old former Danish international striker was a key member of the Wanderers team to secure promotion to the Premiership via the Play Offs in 2001 before returning to his homeland just over 18 months ago on a Free Transfer.
Hansen says the chances of him playing again are looking slim and despite wanting to carry on the former Brondby player knows he will have to quit for the sake of his future health.
"Right now it doesn't look good, and I'm not counting on playing anymore, even though I would like to play for another six months or a whole year, I would rather like to be able to walk normally when I'm 40 years old,''
"FC Midtjylland are going into an exciting period and I would very much like to be a part of it. On the other hand, I won't destroy myself so that I need a new knee when I'm 40 or 45.''
Hansen joined Bolton for just over £1 million on transfer deadline day five years ago and made 96 appearances for the Trotters scoring 15 goals. We at BoltonMAD would like to wish Bo all the best in his future in whatever he chooses to do.