He told the CET: "I contacted Mike (McGinnity) yesterday and I made it clear my intention to take the club over and put the bid in by the end of this month or by early December.
"He is now well aware of our intentions. We have been open and honest with what we are trying to do.
"We are going to put in a bid in that's fruitful for them (the board) but if they think we will offer them millions and millions then they are wrong."
Adding: "As far as we are concerned, we have not changed our road map for the club.
"We get contacted by fans every day of the week - most of them saying good luck. "I am a man of my word and I will take Coventry City over.
"As far as I'm concerned, I want to do what is right for Coventry City."