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Bolton captain Kevin Davies turned down a move to Major League Soccer side Toronto just 24 hours after reportedly being close to agreeing a deal.

Having been told his contract would not be renewed, the 36-year-old could have made an immediate switch to Canada.

"My family and I were naturally excited about the opportunity of going to Toronto on a short-term deal," he said.

"But after legal advice we felt that certain obstacles put in our way were too large to overcome."

The striker has not been a member of Bolton's recent squads and made the last of his 38 appearances this season on 16 March, but has now committed himself to the club for the rest of the Championship campaign.

"It has been a complete rollercoaster since first speaking with [Toronto head coach] Ryan Nelsen on 18 April," said Davies, who signed a new one-year deal after the club were relegated from the Premier League last season.

"Whilst it has been the toughest month of my 10-year Bolton career, I remain, as I always have done, 100% committed to the club.

"I will finish the season here and continue with my high standards as a professional footballer.

"I will be ready if the manager needs me and, hopefully, have a part to play in helping the club return to the Premier League."

After beginning his career at Chesterfield from Southampton in the summer of 2003, having failed to make an impact following a £7.5m move south from Blackburn.

He made a as a substitute in a Euro 2012 qualifier against Montenegro at Wembley.