The 32-year-old who now plays in the A-League for the Central Coast Mariners, scored two goals in a friendly match last week.
It is believed that the Football Federation of Australia would need to contribute to any contract offer from the club to make it economically feasible.
While Bolt is on trial at the Mariners, reports have suggested there are a few clubs across Europe interested in signing the eight-time Olympic champion.
An Australian soccer coach has brutally slammed Usain Bolt's chances of ever playing in a top flight European league.
Responding to the snub, Valletta CEO Ghasston Slimen wished Bolt "all the best" with his career, adding that the offer "is always on the table." . "We are regularly approached by clubs from all over the world", his representative, Ricky Simms, said.
Earlier this week, Bolt was offered a two-year deal by Valletta FC, local champions in the tiny Mediterranean island state of Malta.
The A-League kicks off this weekend with the Mariners taking on the Brisbane Roar.
Club chief executive Shaun Mielekamp said this week the Jamaican "will continue his indefinite training period until any further notice".
Central Coast Mariners' Usain Bolt receives instructions before being substituted on. "[I was] very happy for him for the two goals that he scored but we move on", Mulvey said.
As the A-League begins its 14th season, the biggest question in Australia seems to be: Will he or won't he?
Before joining the Mariners, he trained with German giants Borussia Dortmund, as well as Mamelodi Sundowns in South Africa and Stromsgodset in Norway.