Dann was a key figure in Walsall's promotion last season (Getty)

Dann, 20, signed for the Sky Blues on Thursday for an undisclosed fee.

Money told Walsall's website: "We received an offer from Coventry late on Wednesday. That offer did not meet our valuation and was refused.

"I can only speculate on how Scott knew of Coventry's interest, but on Thursday morning he came into my office and made it clear that he wanted to move."

The Walsall boss continued: "During the course of Thursday afternoon an improved offer from Coventry was received.

"This offer met our valuation and permission was granted for Coventry to speak to the player."

606: DEBATE Think I'll just go and support Cov - wouldn't take me much longer to get there and I think I might like some of their players Leroy_Brown

Money said part of the deal was for Dann to return to the Banks's Stadium on emergency loan until the end of February to allow Walsall to sign a replacement, only for the centre-half to change his mind.

Dann joins former Walsall team-mate Daniel Fox at the Ricoh Stadium, but chairman Jeff Bonser insists the Saddlers got market value for both players.

"I want to emphasise to supporters that these players have not been allowed to leave on the cheap," said Bonser.