Bolton have released Ivan Campo, Stelios Giannakopoulos and Andranik Teymourian but aim to keep key men Jussi Jaaskelainen and Ricardo Gardner.
Trotters manager Gary Megson is hopeful of persuading goalkeeper Jaaskelainen and defender Gardner to sign new contracts.
Wanderers finished just a point above the Premier League relegation zone after staging a remarkable escape and Megson has started planning for next year by dispensing with three of his midfielders.
"Ivan, Stelios and Andranik have all done well for Bolton Wanderers and I'd like to express my gratitude to them," said the Bolton boss.
"It's time for them to move on and I wish them all the best."
Jaaskelainen and Gardner's contracts expire at the end of June but Megson remains hopeful of extending their stay at the Reebok Stadium.
"Jussi and Ricardo have both been excellent servants and are still very much part of my future plans for this football club," he told the club's website.
"Hopefully, we can get them secured on new deals as soon as possible."


gleavesy (Bolton Wanderers) : "...What about this, Geovanni = free. Saha and Ben Haim Loan. Pennant and Guthrie from Liverpool wouldn't cost too much. Any ideas for anyone else??..." view full comment
Liverpool will not pay the £18m Aston Villa want for Gareth Barry, Mike Ashley would sell Newcastle for £420m and Hull want George Boateng.
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TEAMtalk believes it makes a refreshing change to see a manager spared the axe after the FFF opted to retain Raymond Domenech's services.
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RED_DEVIL23 (Manchester United) : "...well sth interesting that ive heard is that arsenal are now in for barry ,on advice of martin o'neal randy lerner does not want to do business with liverpool as of their poor conduct and ridiculous offers,arsenal will offer a player plus cash deal fo..." view full rumour

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Your Comments
mutual chump (Bolton Wanderers fan)
"JohnnyC is spot on, if a United fan can have knowledge of Stelios and see his mistreatment, even the info on him linked to Liverpool, why couldnt Sammy Lee and Megson see that we were crying out for him for most of the season? He's been an incredibly loyal, classy and vital player and has been ditched for it. Campo too, but he was getting past it sadly in terms of speed and his fannying about with the ball outside his own box scared me witless. But his passing ability, jumping on the ball after a foul and THAT goal against Spurs last season will be how I'll always remember him. Also it annoyed me how Ando was bizarrely not given a chance by both Lee and Megson when we knew he had raw potential to be the next McAteer for us. It was like Borgetti all over again. :("
Britlass (Bolton Wanderers fan)
"I wish all three good luck in their futures. I hate to see Ivan and Stelios leave but it is time; not to mention the are both high earnings, which will free us wages for younger (and hopefully) quality players joining us. Personally, I'm surprised we have offered Walker another contract! I'd get Al-Habsi on a long term deal while we are at it and I'd release Vaz Te and possibly Gardner too (pace with not much end product, sadly. This has been a trying season and it calls for a ruthless overhauling of the team in my opinion. "
pfk505 (Bolton Wanderers fan)
"I'd rather keep Stelios and Gardner, lose the other 3. Andranik showed promise but I guess we'll never know what happened now."
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