Grimsby chairman John Fenty is hoping to get Fowler to Blundell Park.
"The situation is this: A couple of weeks ago the manager had some discussions with Robbie and then he asked me if we could potentially take it forward for Robbie to come in some sort of playing/coaching capacity," Fenty told the club's official website.
"That has come about because of Mike's friendship with him and also the fact that it had been mooted that Robbie has said that he wanted to get onto the management ladder.
"Obviously, we saw a potential opportunity here, and after discussing it through with Robbie, it was quite clear that Robbie wants to keep playing at the highest level possible for as long as he possibly can.
"He is now waiting for Blackburn to clarify their position. He is under contract there until December.
"There is a real chance, and logically it is likely to happen this way, in that he gets a contract extension at Blackburn.
"If this doesn't happen, there is a glimmer of a chance that he might come to Grimsby.
"In truth, we were trying to avoid this becoming a public issue but I think I needed to clarify the situation with regards Robbie Fowler.
"It wasn't meant to get out, I don't know how it was leaked, to that extent I feel that it needs this clarification."