The Trotters are among a host of clubs to be linked with Wylde since he opted to walk away from Rangers this week after the Glasgow side’s administrators sought redundancies.
Coyle did look at the 20-year-old in the summer before deciding not to make a move. However, with Bolton now desperate to try to escape from the Premier League relegation zone, Coyle might be tempted to look at Wylde again.
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 be liquidated.
“Gregg Wylde is a player we had an interest in back in August,” confirmed Coyle. “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.”
Coyle confirmed he had not spoken to Wylde or his representatives about a move, although he is aware of the complications.
“There would need to be some Fifa directive on it because it is extenuating circumstances,” said the Scot. “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.
“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.”