The 'That's The Truth' singer is a Bolton Wanderers fan and was proposed the challenge by their chairman.
"Bolton's chairman Phil Gartside said, 'I've got a favour to ask, he said how do I get these fans singing? Can you write me a song?'" he told the Manchester Evening News.
"That's probably one of the biggest challenges I have ever come across in my life. How do we get the Bolton people singing?
"So that's a challenge I have got to do in my life. I'll let you know when it comes out."
McFly recently revealed that they are to wear superhero costumes on their upcoming tour.