The Scotland under-21 international volunteered to leave the Scottish giants without taking a redundancy package, despite only recently signing a five-year contract.
The youngster is effectively a free agent and Wanderers are now able to snap him up outside of the transfer window. Owen Coyle failed with a £400,000 bid for the player in the summer before he committed his future to the Gers and the Scot is sure to back in for him now he is without a club.
"I volunteered to walk with no redundancy package today to help the other people in the club who have families, like the kitchen staff," Wylde said of his decision.
"I offered to walk away yesterday and the club told me today that they would accept that offer. At the moment I have nowhere to go and I don't have another club."
That should not last for long though and Bolton are unlikely to be the only club who are interested.