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16 May 2013 Last updated at 09:39 GMT
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Coventry City: Haskell consortium confirm bid for Sky Blues
Coventry City's prospective owners have confirmed that a takeover bid has been made by a consortium involving American multi-millionaire Preston Haskell IV.
The deal would also involve owning a half share in the Sky Blues' home at the Ricoh Arena.
Life president Joe Elliott, who is fronting the Haskell consortium, told BBC Coventry & Warwickshire: "Preston Haskell is extremely serious.
"We've been working on this for some time. He was here only on Tuesday."
Elliott also admitted that, following the year-long rent row with their landlords, Arena Coventry Ltd (ACL), relations are now much improved and moving towards an agreement that would involve the club's new owners also half-owning their eight-year-old, 32,000-seater home.
"We are talking to ACL, we have a good relationship with them and the door is open," added Elliott.
"They want Coventry City to play at the Ricoh Arena. And the city of Coventry deserves for this team to play in Coventry."
The League One club, who have been owned by SISU since 2007, have been in administration since late March.
More to follow.