The second place Premier League side look set to continue testing Bolton’s resolve for the player, after relegation sent them from the Championship to League One.
Holding, who was recently been brought into the England Under21 set up for the Toulon tournament, has been one of the highlights of the relegated Wanderers season and they are unlikely to let him go easy this summer.
Bolton has already rejected a £750k bid for the talented defender from Arsenal and Arsene Wenger has decided to up his offer to £1.2million.
The French manager is adamant that he can get his player for a more reasonable fee than what Bolton are asking for and will continue to barter until an offer is accepted.
The Wanderers are currently quoting the high-flying gunners £8million for Holding and with the player only having twelve months left on his current deal, the price tag does seem a little ambitious.
However, with Bolton in a bad state financially and with a season of League One looking them straight in the face, the money made from this transfer could shape their season.
If Bolton can get around £4million for Holding, that could possibly shape their 16/17 season with enough money to finance a few transfers for the cash-strapped club.
While this transfer saga in ensuing, Bolton are also looking to appoint a new manager.
The club is currently interested in offering the trio of Chris Powell, Nigel Adkins and Steve Cotterill the currently vacant position of manager.
Former Lufc boss Steve Evans has also been in the running for the role and with him now being released from his role at the club, Bolton could be the perfect place for him to restart his career.
Evans is no stranger to promotion from League One, having guided Rotherham to promotion via the playoffs in 2014. His ability to work on a shoestring budget could also be perfect for the cash-strapped Wanderers.
If a new manager is to come in, the Holding situation could go two ways; rather a new man will want as much money as possible in order to bring his own players in or he’ll want to build a team around the young star and push for promotion.