He revealed: "When Mark McGhee was appointed at Brighton I phoned him and wished him good luck.
"As part of the conversation, I mentioned that Michel had been with us on loan and that if there was any change in the situation at Brighton, I might be interested.
"Mark did contact me again last week and we discussed things but that's as far as it's gone.
"Michel is a player I am interested in but Brighton know I am not going to pay silly money for him."
However, reports from Brighton suggest that a move doesn't look imminent.
Assistant manager Bob Brooker said: "It's all speculation at the moment. I've seen it reported on Teletext and in the papers but that's all we know about it."
Meanwhile, Taylor added that a goalkeeper isn't the only position he's looking to strengthen in: "Now might be a time just to freshen things up and keep everyone on their toes."