This means that the 30-year-old striker will be a free agent, and Coyle wants to secure his services.
The former Swansea City striker played on loan for Championship club Blackburn from Sunderland during the second half of the 2015-16 season.
“Danny is a good player and given his situation there’s no doubt that he’s going to have some very big offers on the table,” Coyle told The Lancashire Telegraph. “He’s an outstanding player, somebody I’ve always liked, and that’s all relative to what we can do.
"Ultimately we’ll work within everything we’ve got here to bring those players in and Danny’s a very good player. Whether we can get him to the football club, because I know he’ll have some very big offers, remains to be seen.”
Blackburn will (reportedly) face competition in their quest to sign Graham on a free in the summer transfer window.
According to The Sunderland Echo, Birmingham City and Wigan Athletic are interested in signing the Englishman.
According to a report in The Sun last month, Rangers manager Mark Warburton has identified the former Middlesbrough striker as a summer transfer target.
It was also reported by The Sun that if Brendan Rodgers became the new Celtic manager (which he did), then he would look to sign Graham with whom he worked at Swansea.
Graham scored seven goals and created 15 chances in 18 Championship appearances for Blackburn this past season.