Coventry moved into the Ricoh Arena in August 2005

The Sky Blues are about �30m in debt and chairman Geoffrey Robinson and managing director Paul Fletcher resigned earlier this month.

But City's board met on Tuesday to discuss the proposals and a further announcement is expected soon.

US-based Manhattan Sports Capital Partners Limited recently withdrew their interest in taking over the club.

606: DEBATE Your thoughts on the goings on at Coventry

New City chairman Joe Elliott told the BBC on Sunday the club could go into administration in the new year unless a buyer or major new investment is found.

And the Football League has imposed a transfer embargo on the club after an instalment payment to Southampton for the transfer of Leon Best was missed.