Mbule's loan deal was terminated by Sekhukhune United early last month due to the 27-year-old midfielder's ill-discipline and he returned to Sundowns.
The Tshwane giants have since opted against keeping the former SuperSport United star, who was suspended by Sundowns in 2023, along with Andile Jali, after they allegedly came to training drunk.
Meanwhile, Coetzee has proved to be an injury-prone player during his time with Sundowns, having played just five PSL league games in the recent season.
The 28-year-old sustained an unfortunate ACL injury in October 2024 after a league clash against Cape Town City and it has proved to be his last competitive game for Masandawana.