Allardyce's name is etched in Bolton folklore after he led them into the Premier League, then Europe, not to mention the Carling Cup final.
He is now trying to revitalise Blackburn after an unsuccessful spell at Newcastle.
Coyle has already lost one tactical battle this season to his managerial counterpart when the Burnley side he was in charge of went down 3-2 at Ewood Park.
He said: "We are sitting here in the training ground, which is part of Sam's legacy.
"Along with Phil Gartside (chairman) and Eddie Davies (owner), they all came together and had a vision.
"They had the finance to back it up and Sam has left a tremendous legacy at this club.
"Sam is someone I have a lot of time for. He is a tremendous manager with a fine backroom staff and after the game we will have a chat."
Thoughts of Europe are a distant memory as Bolton battle to avoid the drop.
Following the draw against Wigan in midweek they have managed just one win in seven league games since Coyle replaced Gary Megson.
He believes the results are not a fair reflection of their performances.
"The margins are very fine and there have been some tough fixtures," said Coyle.
"We have to accept we should have scored more goals with the chances we had. But I know we can turn things around as the lads are working their socks off.
"You have to believe in what you are doing and in the players you have. They have shown they can go toe to toe with some of the best teams in the country.
"We are coming up against a very good Blackburn side, with a terrific home record. But we want to go there and put our own stamp on the match."
Coyle will monitor the fitness of striker Ivan Klasnic over the next 24 hours.
The Croatian, who has six goals this season after arriving on loan from Nantes, is on the mend after a calf injury.
He last appeared in Bolton's only win under Coyle and that was against the manager's former club Burnley last month.
Coyle said: "Klasnic has not trained with the group yet but he may join in tomorrow. If he does I will have to look at that.
"What I can't do is take a chance with him and have him miss another two or three weeks because he is a natural goalscorer. He will be important for us in the run-in."