Tim Fisher has rejected the deal offered by Coventry City supporter Gary Hoffman.
Mr Hoffman and his backers had offered to pay the Ricoh Arena rent for three years, the costs of getting out of the deal with Northampton Town and half the costs from the increased ticket and revenues that playing in Coventry would have brought, something both the Football League and Sports Minister would have supported.
However, Tim Fisher has rejected this with a simple Thanks But No Thanks.