It dates back much further than the Jimmy Hill/Sky Blue era. It's actually a reference to the 1930's, when Coventry City were know as 'The Bantams' (The Clarrie Bourton era)
In the 1930's Coventry City scored 5 goals so often, that they became known as the "Old Five"
Clarrie Bourton incidentally scored 173 goals in 228 appearances (76% goal game ratio over a 6 year period). To put that into perspective David McGoldrick has scored 13 league goals in 18 appearances (72% goal game ratio)
Here is a short clip about Clarrie Bourton and Highfield Road in the 1930's
http://oldcoventryonfilm.vidmeup.com/view?q=50c47e044cc7d.flv
Think bourton got 49 in one season.
Both my grandad's would always bang on about him!!!
OMG checkout the season 1931-32 season results </p>
<p>The old five should be the old six</p>
<p><a href="http://www.espn.co.uk/football/sport/match/index.html?season=1931%2F32;team=273" target="_blank" rel="nofollow">http://www.espn.co.uk/football/sport/match/index.html?season=1931%2F32;team=273</a>
OMG checkout the season 1931-32 season results
The old five should be the old six
http://www.espn.co.uk/football/sport/match/index.html?season=1931%2F32;team=273
What a season that would of been to watch. Seems like proper end to end attacking football, non of this containment and possession stuff.