The 30-year-old left-back has trained with Phil Parkinson’s side this week and is one of several players waiting on news of a possible contract as the wait for new ownership stretches into the final week of pre-season.
Northern Ireland international Lafferty left Bramall Lane in the summer after two years and spent the second half of last season on loan at Peterborough United.
He has won 13 caps for his country, the last being in 2016, and has more than 200 career appearances for the likes of Burnley, Oldham and Rotherham United.
Lafferty played just once for the Blades in their promotion-winning Championship campaign last season but finished the season strongly in League One and was virtually ever-present in the Posh side that finished just outside the play-offs.
Wanderers are understood to have organised a friendly behind closed doors today (Saturday) against EFL new boys Salford City which will enable them to take another look at several free agents they have lined-up.
Frustratingly, however, the club was still not in a position to offer contracts as The Bolton News went to press, with discussions between the Football Ventures consortium, EFL and hotel administrators yet to reach a conclusion.
The likes of Craig Conway, Billy Clarke, Adam Thompson and Ben Pringle are waiting on news of a deal, while some of last season’s squad - Harry Brockbank, Will Buckley, David Wheater, Gary O’Neil and Jack Hobbs – have also returned to Lostock hoping to get a contract.
Even in the event the takeover is completed quickly, getting players registered in time for next weekend’s big kick-off against Wycombe Wanderers will be no mean feat.
Meanwhile, dates have now been set for Wanderers’ games in this season’s EFL Trophy.
The club host Bradford City at the University of Bolton Stadium on Tuesday, September 3 (7pm), and then Manchester City’s Under-21s on Tuesday, November 12 (7pm).
In between those two games they make the short trip to Rochdale on Tuesday, October 1 (7.45pm).