The ex-Scotland Under-21 striker, who quit the Hoops in controversial circumstances in 2011 to join Chelsea, hopes to get fixed up with a new club for the rest of the season.
Feruz, 19, was poised to join Russian Second Division outfit Krylia Sovetov at the start of the campaign on a temporary transfer from Stamford Bridge.
The deal was agreed, but, remarkably, the 19-year-old scrapped the contract after only 24 hours to return to Jose Mourinho’s side. He said he was not ready for such a “dramatic change in my life.”
Instead, he agreed a short-term deal with Greek Premier League team OFI Crete, managed by ex-Rangers midfielder Rino Gattuso. The contract wasn’t extended when it expired at the turn of the year.
Similarly, he failed to make an impact at Blackpool when he joined them in a loan move in January. Originally, he was expected to remain with the Seasiders until the end of the campaign, but that was scrapped after only two games.
Feruz is now in soccer limbo, but Lennon, who was impressed by the youngster during his stint as youth coach at Parkhead, could take him to Bolton on an emergency contract.
The Championship side urgently require a new attacker after an injury to Zac Clough ruled him out for the remainder of the term.
Neil Lennon could get round red tape by offering Feruz a youth loan contract, although you have to wonder if this guy is worth the effort.