Manhattan Sports Capital Partners agreed in principle in February to buy the Sky Blues and take on their debts.

Since then there have been no announcements, but the man leading the talks, business consultant and City fan Gary Hopkins says matters are ongoing.

He told the Coventry Telegraph: "A lot of work has been happening behind the scenes but patience is required."

News of how negotiations are progressing has been kept under wraps, prompting speculation last week that the deal had broken down.

However, Hopkins insists everyone is still working tirelessly to complete the due diligence stage of the deal.

"Discussions are on-going with the club and all related parties, and are being held in a very constructive manner", he said.

"We continue to undergo our diligence and evaluation and would like to thank all parties for their help and support as we complete this.

"We fully understand that Coventry fans are looking for a quick resolution and, as a fan myself, I appreciate this.