Elmander is out of contract and available on a free transfer in the summer, which has alerted many clubs, in particular after he rejected a 12-month extension to his deal in October.
Coyle has made it clear he wants the 29-year-old striker to remain at the Reebok Stadium, but in his words appreciates "it takes two to tango" as Bolton will have to come up with an offer acceptable to the Swede.
Chairman Phil Gartside is apparently due to speak with Elmander's agent, Anders Wallstein, at some stage within the next fortnight in the hope of brokering a deal.
"I'm surprised it's only the one club he has been linked with this week," said Coyle. "But I don't get too caught up in it. It doesn't make any difference to me.
"The bottom line is Johan is my player until the end of the season, and he will give me everything he has got for each and every game, as he always has done."
Source: PA
Source: PA