Bulgarian winger Martin Petrov has indeed passed his medical tests at Espanyol and is about to become an Espanyol player, Spanish media confirmed.

Petrov could be handed his debut as soon as Friday, according to Spanish website Mundo Deportivo.

The 33-year-old former Bulgaria international's contract will be until the end of the season, with an option to extend the contract for one more year.

"We've got to face the facts. Martin is in the latter years of his career and earns a lot of money at this club," Bolton manager Dougie Freedman has commented on the move, as cited by the BBC.

Petrov joined Bolton Wanderers from Manchester City in the summer of 2010 and has made 85 appearances for the club, scoring 12 goals.

Petrov worked with Espanyol coach Javier Aguirre during his successful stay at Atletico Madrid (2005-2007).