James Cassidy told the club website: "Cassidy Group are committed to helping improve sports within the city, and a successful football club is a key component of that.
"Five years ago the club was in severe financial difficulties and we were proud to help in what was their darkest hour. Under new management the club has come a long way and are now in a position to attract a national sponsor. Both Patric and I, and our families, are proud to have played a part in that.
"It has and continues to be a really good relationship. We will still be very visible at the Ricoh Arena and are very keen to see the club thrive, but we feel it is now in a position where it can pursue new avenues.
"We will follow the progress of the club very closely - and look forward to the day it returns to the Premier League!"
The new kit sponsor is expected to be announced shortly.
"We will follow the progress of the club very closely - and look forward to the day it returns to the Premier League!"
The new kit sponsor is expected to be announced shortly.