The former Town winger is now training with the Spotland club with Buckley believed to be searching for the funds to offer a contract.
Donovan was training with Town last month after his release from Barnsley but failed to win a contract. Although Paul Groves was keen to keep his former West Brom team-mate at Blundell Park. Lack of finances and strength in numbers down the right side prevented a permanent return to Blundell Park.
Donovan's link up with Buckley comes as no suprise. Having managed him first at West Brom and then at Town, after splashing out £300,000, Buckley got the best out of the player.
Buckley's Rochdale side are in a mini slump of late after a promising start to the season. Buckley may well see the man who hit 21 goals for Town in 1997/98 as the kick start required.