OWEN Coyle has offered Burnley fans a glimmer of hope, after vowing to sleep on a proposed move to Bolton Wanderers.

Clarets chairman Barry Kilby and operational director Brendan Flood were last night locked in talks with the 43-year-old over his future, after he had earlier held discussions with Reebok chiefs about succeeding Gary Megson.

The Turf Moor chiefs are desperate not to lose Coyle to Premier League relegation rivals, and as a result of the meeting with his current employers the Scot agreed to take an extra 24 hours to weigh up his options.

Bolton had hoped to have their former striker in charge in time for tomorrow’s league game with Arsenal. However, they are undeterred by the delay, and still expect the ex-St Johnstone boss to be with them at the Emirates in some capacity.

A Burnley club statement read: "Senior Burnley Football Club officials have, on Monday evening, held detailed talks with first team manager Owen Coyle over his future at Turf Moor.

"As a result of these talks over Coyle’s future with his current employers, both parties have decided to take a further 24 hours to digest the information shared before making any further announcement.

"There will be no further comment during this time from Burnley Football Club or Owen Coyle."

Earlier yesterday the club confirmed that Coyle had spoken to Bolton, where he is revered as a club legend after spending more than two years at Burnden Park in the mid-90s - although it was not clear whether an official approach had been received.

He seemed set to quit the Clarets after a little over two years in charge, during which time he has ended the club’s 33-year exile from English football’s top flight and guided them to their first cup semi-final since 1983.

But after travelling back from Scotland, where he had been visiting family to belatedly celebrate the new year, he was persuaded to think things through.

Increasing the transfer budget is likely to have been one of the conditions of staying put, in particular to allow Coyle to strength during the January transfer window and improve their chances of survival.

Compensation was a sticking point also, with Bolton unwilling to pay the £3.6m release clause in Coyle’s contract which would allow him to move to the Reebok. Bolton chairman Phil Gartside is looking to pay closer to £1m, although the Clarets will contest that.

However, the Burnley board are likely to have made contingency plans incase the search for a new manager begins in earnest ahead of Saturday’s home game with Stoke City.

Former Clarets captain and assistant manager Steve Davies, who was made first team coach under Coyle following Steve Cotterill’s departure in November 2007, was in the running before Coyle’s appointment and is now the bookies’ 4/1 joint-favourite with out-of-work former Charlton and West Ham boss Alan Curbishley.

Darren Ferguson, who won back-to-back promotions with Peterborough United before parting company with the Championship side in November, would also be interested.

The Scot was at Milton Keynes on Saturday with ex-Claret Kevin Russell, who was his assistant at London Road and former team-mate at Wrexham.

Former Hibernian boss John Collins and ex-Middlesbrough manager Gareth Southgate are other names in the frame, as well as Swansea’s Paulo Sousa.

But last night the Clarets had not given up hope of losing Coyle, who reached a League Cup final with the Trotters, although did not make the squad despite playing in every previous round. He later helped to fire them into the Premier League, scoring in their 4-3 play-off final win over Reading.