Club chairman Phil Gartside claims Coyle retains the club's full support and is convinced the Scot will lead Bolton back into the top-flight.
"Owen is going to be our manager for a long time and he is going to be successful," Gartside said.
"I've known Owen for the best part of 15 years and know what his qualities are.
Gartside also allayed concerns over the future of the club, insisting reports that Bolton are over £100million in debt and facing financial ruin are wide of the mark.
"We have got a fantastic benefactor in Eddie Davies," he said. "He has supported the club for years and we have a very small bank debt.
"We have a£10m overdraft with Barclays, who raised that this year to £15m."