With Sam Allardyce leaving the club at the start of the 2007–08 season and only a year left on his contract, there were rumours of Stelios moving to another Premier League club or returning to Greece. However Stelios stayed at Bolton and although he was not as regular a player as previous seasons (due to injury and managerial changes) he was able to help Bolton with a string of late goals. The first one during injury time in the League Cup 3rd round tie against Fulham at Craven Cottage, the second one in the UEFA Cup, when Stelios scored in the 3rd minute of injury time to salvage a 1–1 draw against Aris Salonica and the third one in a Premier League game versus Derby when Stelios again scored in injury time to earn Bolton a much needed 3 points in what was a poor season for the team. His last ever goal for Bolton was a crucial one and came on 26 April 2008 when he scored in the 1–1 draw against Tottenham Hotspur helping Bolton avoid relegation.