Managing director Paul Fletcher has revealed Coventry have received two firm offers to take over the club and a third is expected this week.

Fletcher, who last week denied the club faced the threat of administration due to a breakdown in talks with potential investors, believes he is making good progress in finding new money for the club.

He said: "While I am not at liberty to discuss any specific names or financial matters, I can say that there have been two firm offers made.

"They are legitimate offers that are in the long-term interests of the club and we expect a third offer to come in over the next few days."

Fletcher added both bidders also wanted to make manager Iain Dowie and his staff part of the long-term future of the club.