And now the Welsh international has signed a new two-year deal to remain at the Reebok Stadium until the summer of 2008.
The 36-year-old left Newcastle in 2004.
Bolton boss Sam Allardyce: "Gary's top-flight experience is second to none and is vital to this football club. He's been with us for two seasons and during that time he has been exceptional for us."
Speed joined Newcastle from Everton in 1998 after falling out with the fans at Goodison. He made 231 appearances for the Mags, scoring 35 goals.