The Trotters are among a host of clubs to be linked with Wylde since he opted to walk away from Rangers earlier this month after the Glasgow giants entered administration. However, with Bolton now desperate to try and escape the Premier League relegation zone, Coyle might be tempted to look at Wylde again.
"Gregg Wylde is a player we had an interest in back in August. He is a talented young player who has been caught up in the turmoil at Rangers. His performances have been up and down, whereas last season there is no doubt he was at the top of his form," said Coyle.
Although the Trotters have filled their 25-man squad, in theory they could sign Wylde as clubs are allowed to recruit an unlimited number of under-21s. The situation is far more complicated than that though. First of all, world governing body FIFA would have to confirm that Wylde was free to sign for another club outside the transfer window.
Then the Premier League would have to rule on the matter, mindful of their requirement to uphold the integrity of the competition. It is new ground which, if it is not explored in Wylde's case, almost certainly would be should more high-profile Rangers players either be released or the club get liquidated.
Coyle confirmed he had not spoken to Wylde or his representatives about a move, although he is aware of the complications.
"Potentially anyone could be a useful addition to our squad," said the Scot. "There would need to be some FIFA directive on it because it is extenuating circumstances. You would need to await what the outcome of that is before anyone acts upon it."
Despite his lifelong allegiance to Celtic, Coyle takes no pleasure from the ongoing troubles at Ibrox, which seem to take another downward turn by the day.
"I grew up in Glasgow," he said. "I am Celtic through and through and always will be. But I am a huge admirer of Rangers. I was always well treated when I went there as a player and Ally McCoist is a pal of mine. I feel for him. I look with dismay at how they got to that situation.
"You go anywhere in the world and people know Rangers. I am sure that will be the case again, as horrible as this present situation is. When they come through this they will get back to the strength and power they were before."
Source: PA
Source: PA