"I don't fully understand exactly where we are in terms of the deal. It is certainly something that if it is going to happen I hope it happens in decent time," said Dowie to Sky Sports News.
"I think it is very important for the future of this club that it is the right deal at the right time. But there's no question that in order to take this club to where it wants to go you will need significant investment in the team.
"The club is in good hands in terms of the senior management team and they will make the right decisions for Coventry. I think if you listened to (chairman) Geoffrey Robinson's statement he said exactly that.
"He said he hopes it happens but it's whether the deal is right. Far more eloquent financial people are dealing with that side of things now and I am a very interested bystander."