Mark Robins’ side narrowly missed out on earning promotion to the Premier League this season and are now plotting to strengthen their squad in the summer.
An eye has been cast towards German club Werder Bremen, where left-back Buchanan is on the books.
However, Coventry need to tempt Buchanan to turn his back on Werder Bremen and could be set for disappointment.
The former Derby County man is determined to make an impact in Germany and does not appear minded to leave Werder Bremen.
His situation could still change, if Werder Bremen want to shift him off the books.
Buchanan made the switch to Werder Bremen last summer, linking up with the club on a free transfer from Derby.
Werder Bremen finished in 13th place in the Bundesliga this season, just three points above the relegation playoff spot, which was filled by Stuttgart.