Matt Le Tissier has urged Southampton boss Ronald Koeman to sign striking reinforcements before the transfer window closes.
Sky sources understand the Latics will now discuss personal terms with the 32-year-old.
The forward has been with Norwich since 2009 but manager Chris Hughton has been actively seeking reinforcements up front following Holt's return of just eight Premier League goals last season.
Holt netted 15 league goals in Norwich's first season back in the top-flight in 2011-12 and has a prolific record in the Football League, with new Latics boss Owen Coyle thought to want the Canaries captain to spearhead his strike-force.
Sky Bet Football Trader Chris Spicer said: "We had to pull the plug on Holt's market due to the sheer volume of bets we we've taken on.
"Our customers have been queuing up to back the move, which was an even-money price just two days ago and as long as 8/1 last week."