South Korean Lee suffered a double leg fracture against Newport County on Saturday, which will keep him out for 10 months.
Coyle had planned to spend his remaining transfer funds on two attackers to offset the loss of Johan Elmander and Daniel Sturridge but Lee’s horror injury has forced him to do a U-turn.
The Bolton boss has now turned his attentions to Wright-Phillips who would be a like for like replacement.
Talks are set to be opened with a view to bringing the diminutive winger to the Reebok Stadium either on loan or on a permanent deal.
A temporary deal with the option to buy at the end of the season is a more attractive proposition for the Trotters.
One sticking point for Wanderers could be the wages he is on at the Etihad Stadium which may prove to be a problem.
However with the offer of guaranteed first team football at Bolton it’s thought that Wright-Phillips would be open to taking a wage cut.
The winger is way down the pecking order at City with manager Roberto Mancini unlikely to use him in big games this season.