Coyle is keen to add to his squad in the January transfer window in order to keep on track in the bid for Premier League survival.
Burnley will face competition from Nottinham Forest, who are keen to sign the 20-year-old on a permanent move, according to News of the World.
Spurs manager Harry Redknapp may decide to keep Bale at the club as Benoit Assou-Ekotto is set to take part in the African Cup of Nations with Cameroon.