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Coventry managing director Paul Fletcher insists progress is being made regarding the club's proposed takeover.

American consortium Manhattan Sports Capital Partners, who first expressed their interest in investing in the Championship club way back in February, are expected to finally become the Sky Blues' new owners some time this month.

Fletcher admits the deal is taking far longer than he expected to complete but said: "I met with key members of the Manhattan Capital Partners in New York on both Wednesday and Thursday this week and I'm happy to report things are still progressing.

"I am also fully aware the speed of negotiations is far slower than most people's expectations [especially CCFC supporters] but such is the complexity of potential agreements between Coventry City Football Club, Coventry City Council, Arena Coventry Ltd and the Higgs Charity more time is necessary to ensure everyone is happy.

"Once these negotiations reach a satisfactory conclusion and Manhattan have made their formal offer, Coventry City Football Club will then be in a position to make a formal statement."