Bolton have reportedly launched a bid to sign Dutch winger Andy van der Meyde.
Allardyce is in talks with Inter Milan and the Dutch star's agents about a £2.2 million swoop for the 25-year-old.
Van der Meyde can play on either wing and would bring class and a new dimension into the well-organised Wanderers ranks.
Meanwhile, Allardyce has earmarked teenage midfielder Joey O'Brien for a Premiership breakthrough this season.
Sheffield Wednesday hoped to resign the player they had on loan last season, but have been told O'Brien is staying at the Reebok.