Coventry City Chairman Tim Fisher has described the bid to buy the fifty per cent shares in Arena Coventry Limited as a very generous one.
Speaking to the Coventry Telegraph's Simon Gilbert, Mt Fisher said: “We have made a conditional offer – we are still awaiting vital information.
“Through the liquidator the club has been given an opportunity to purchase the Higgs’ shares in ACL and we have made a very generous offer.
“This might be a unique opportunity and we owe it to the fans to try to purchase a stake in the Ricoh Arena thereby securing our short-term future, and to bolster revenues in regards to financial fairplay and improve the product on the pitch, which will be the first time since we left Highfield Road.
“This does not detract from us building our own stadium; it is important we keep a focus in that because we need access to 100 per cent of stadium revenues.
“The offer is not just a financial offer, we have also proposed a far-reaching partnership with the charity to use the power of football to create a community programme.
“It’s about using football for community cohesion and the ultimate betterment of the whole Coventry community.
“This is a very serious offer. We have to look beyond any past issues with the relationship between the charity and football club. The club comes first.”