After their failure to regain Premier League status at the first attempt, Reading are resigned to the loss of 26-year-old Doyle.
Newly-promoted Wolves are already believed to have lodged a bid for the Republic of Ireland frontman which matches his £6.5million get-out clause.
Sunderland and Fulham, who in the latter's case can provide the added incentive of Europa League action next term, are also thought to be monitoring the situation.
However, Bolton boss Gary Megson is now ready to test the water with an offer of his own.
Megson has money to spend now he has ditched a plan to sign Portugal international Miguel Veloso and is also targeting Swansea's Ferrie Bodde.
However, after issuing a hands-off notice on Kevin Davies, Megson feels Doyle, who scored 18 goals in the Championship last season, could help reinvigorate Bolton's attack.
The Trotters chief is keen to implement a more eye-catching strategy next term after two tough seasons.
Last month Megson admitted Bolton were chronically short of bodies and risked relegation unless the situation changed.
However, the transfer of Sean Davis from Portsmouth is almost complete, while Megson is keen to secure the services of left-back Paul Robinson from relegated West Brom.