But it is the second disappointment of the week for the former St Johnstone boss after Rangers forward Alan Gow priced himself out of a move to Turf Moor as part of the £3m transfer of Kyle Lafferty to Ibrox.
Coyle has turned his attention to other targets.
He was not being drawn on their identities but admitted to wanting to decrease the average age of his squad as he prepares for a second assault on promotion from the Championship.
So reports of interest in veteran Rangers defender David Weir appear to be wide of the mark.
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