Goalkeeper Chris Dunn would be welcomed back to Northampton should his transfer to a Championship side break down.
Dunn is considering signing a new deal with his current deal expiring at the end of June but Coventry are believed to be interested in signing the 24-year-old under the Bosman ruling.
Manager Gary Johnson told the Northampton Chronicle & Echo: "He never let me down, Dunny, so if he does stay then I will be happy to have him here as my first-choice goalkeeper. If a Championship-level club comes in for someone and they're out of contract then you have to wish them well.
"I know he has made mistakes but he's only 24 and all players of that age make mistakes, you notice them more of course when it's the goalkeeper.
"Tim Flowers (Northampton goalkeeping coach) has been very impressed with him and feels he can improve, and I was very pleased with the way he played in the last couple of games after getting a nasty injury."
Meanwhile, Johnson has admitted there has been little interest in transfer-listed midfielder Ryan Gilligan, adding: "We haven't heard any news but it might just be that clubs are holding back until later in the summer so they don't have to pay the wages until they actually get the player."