Phase One includes a railway station at Coventry City's Ricoh Arena, but the paper claims that although City Chiefs and local MP's were told by Transport Secretary Phillip Hammond to make cuts in order to help their bid for £12m government funding, they are unable to do so.
Speaking to CT, Nuneaton MP Marcus Jones said: "We were asked to consider if we could take anything out of the scheme and we said we couldn't."
A decision on whether provisional funding will be given, will be announced in January and if that is approved then a full decision will be made in the autumn.