The out-of-work boss is a self-confessed admirer of Celtic's number nine.
The former Blackburn Rovers manager is now 4/1 to take charge of West Bromwich Albion.
Coyle is among the contenders to succeed Alan Pardew at West Bromwich Albion.
The loan for the teenager was confirmed directly after he signed a new four-and-a-half year deal at Stoke
Ibrox side Glasgow Rangers look set to appoint a new manager shortly.
Celtic winger Scott Sinclair has been in prolific form this season.
The Scottish manager reveals that he tried to sign the Celtic talent last summer for Blackburn.
Blackburn fans were worried that Mowbray would be removed by their controversial owners, but the former Celtic boss will stay.
The relegation battlers are still yet to lose under new manager Tony Mowbray's stewardship.
Ben Marshall completed a move to Wolverhampton Wanderers from their Championship rivals Blackburn Rovers.
The former Queens Park Rangers and Wolverhampton Wanderers bosses are the early contenders to replace Coyle at Blackburn Rovers.
HITC Sport understands Blackburn poised to name former Burnley boss as new manager.
The former Burnley, Bolton Wanderers and Wigan Athletic boss parted ways with the Houston Dynamo by mutual consent this week after a disappointing 18-month stint in the USA.