In a statement released yesterday, Bury's directors confirmed they had received a number of applications for the post, but will take their time on the decision.
Fowler last played in England for Blackburn in December 2008, scoring 230 goals across 15 years for Liverpool, Leeds, Manchester City, Cardiff and Rovers.
He has spent the past two years playing in Australia's A-League for North Queensland Fury and Perth Glory.
On Friday, Perth indicated that Fowler would be returning to Australia for next season.
"As you know we have made an offer to Robbie Fowler on reduced terms for next season," said a spokesperson.
"Robbie has verbally confirmed his commitment for the 2011/12 season but the club will make a formal announcement once the contract is signed."
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