The Sky Blues Chairman feels that he and Chris Coleman have made a good offer to Luton Town for the 24 year former Rushden and Leicester midfielder.
The Hatters, now in League Two after being relegated last month and in administration, feel that the bid is not enough and believe that City will be prepared to pay more for Bell.
It now looks like the deal will fall after Ray Ranson admitted to the CT: "We've made one offer which we think is fair and that's it. That is our final offer."