The 30-year-old is currently on a reported £60,000-a-week salary at Nantes, something that could prove a sticking point in the transfer.
“I have said all along that if we can get something sorted financially with Ivan, then I would love to have him back at the football club,” Coyle told the Bolton News.
“But finance does play a part – and without getting into the bits and pieces, he’s on a fantastic contract at his club. That’s the only thing standing in our way, nothing else.
“I think Ivan is a top class player who will score goals in my team. But if it’s too rich for the football club, it’s too rich.”