Coyle's limited budget meant he felt there was only an outside chance of recruiting the 30-year-old, but now that Ligue 2 club Nantes have cancelled the final two years of Klasnic's contract the possibility of a return has increased.
"Ivan is a great lad who's well liked by the fans and well liked in my dressing room," Coyle told the Bolton News. "If we can find a way to bring him back to the club, I'd love to do it.
"A few financial things have got to fall into place for that to happen - but we're definitely working on it."
But Bolton could face competition to sign the striker with Klasnic claiming a number of other clubs have shown an interest.
"I know I will find a new club," he said. "I am under no pressure and I have two or three options."
Source: ESPN Soccernet
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