Coyle hopeful on Wright-Phillips talks
Wright-Phillips has struggled to make an impact under City boss Roberto Mancini at Eastlands and with his chances limited once again this season the 29-year-old is considering a new challenge.
Bolton have opened negotiations with City but are unable to match Wright-Phillips' estimated £70,000-a-week wages and, so far, have been unable to find a way of bridging the gap.
Coyle, who is still trying to push the a deal through, said: "Shaun is a tremendous player. He is someone I would love to bring to the club. Whether it is possible, only time will tell.
"There are financial implications involved. Players at Manchester City are on contracts that are more than we could pay. There is a threshold we cannot go beyond. But there has been dialogue between our chairman and (City chief executive) Garry Cook. That is where we are at the moment. There is nothing concrete.''
Coyle confirmed talks are further advanced with former Stoke striker Tuncay Sanli, who could be about to arrive on loan from Bundesliga outfit Wolfsburg.
"We are a good way down the line with that but it is not cut and dried,'' he said. "He is a terrific player, who really works his socks off.''